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

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

3. Engineering Economics&
Financial Accounting
Ee&fa
310 August 2014

4. Demand function

5. DEMAND function
• Demand function describe the relationship
between one variable and its determinants.
• It describe the quantity of goods bought at
alternative prices of a goods and related
goods. Alternative income levels and
alternative values of other variables affecting
demand.
• The demand function for a goods relates to
the quantity of a goods that consumer
demand during the given period to the factor
that influenced demand.
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6. • Matheamatically, the demand
function for product X can be
expressed as follows:
• Qd = f(P, I, T, PR, EP, EI, SP, DC,
A, O)
• Where Qd refer to the quantity of
demand
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