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Prepared by :
Dr. K. BARANIDHARAN
PROF.MBA
SRI SAIRAM INSTITUTE OF TECHNOLOGY
CHENNAI
ENGINEERING ECONOMICS
AND
FINANCIAL ACCOUNTING
Sri Sairam Institute of Technology 2
Engineering Economics&
Financial Accountingment
Ee&fa
310 August 2014
DEMAND
4
What is DEMAND?
• “Every want supported by the
willingness and ability to buy” –
constitutes demand for a particular
product or services…..
• In other words, if a person wants a CAR
and cannot pay for it. There is no
demand for the CAR from his or her
side………..
5
• A product or service is said to have
demand when three conditions are
met:
• 1.Desire on the part of the buyer to buy.
• 2.Willing to pay for it
• 3,Ability to pay the specified price for it.
• Unless all these conditions are fulfilled,
the product is not said to have any
demand.
6
7
“ A person when desiring is willing
and able to pay for what he/she
desires , the desire is changed into
demand.
Demand is always: @ Price , Per
Unit Time.
Demand refers to the quantity of a
good or service that buyers are
willing to buy during a particular
period at a given price.
Demand - ENGINEERING ECONOMICS & FINANCIAL ACCOUNTING - DR.K.BARANIDHARAN, SRI SAIRAM INSTITUTE OF TECHNOLOGY, CHENNAI

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Demand - ENGINEERING ECONOMICS & FINANCIAL ACCOUNTING - DR.K.BARANIDHARAN, SRI SAIRAM INSTITUTE OF TECHNOLOGY, CHENNAI

  • 1.
  • 2. Prepared by : Dr. K. BARANIDHARAN PROF.MBA SRI SAIRAM INSTITUTE OF TECHNOLOGY CHENNAI ENGINEERING ECONOMICS AND FINANCIAL ACCOUNTING Sri Sairam Institute of Technology 2
  • 5. What is DEMAND? • “Every want supported by the willingness and ability to buy” – constitutes demand for a particular product or services….. • In other words, if a person wants a CAR and cannot pay for it. There is no demand for the CAR from his or her side……….. 5
  • 6. • A product or service is said to have demand when three conditions are met: • 1.Desire on the part of the buyer to buy. • 2.Willing to pay for it • 3,Ability to pay the specified price for it. • Unless all these conditions are fulfilled, the product is not said to have any demand. 6
  • 7. 7 “ A person when desiring is willing and able to pay for what he/she desires , the desire is changed into demand. Demand is always: @ Price , Per Unit Time. Demand refers to the quantity of a good or service that buyers are willing to buy during a particular period at a given price.