This document discusses demand and the types of demand. It begins with defining demand as the quantity of a good that consumers are willing and able to purchase at various prices during a given period of time. It then discusses the law of demand, which states that as price increases, quantity demanded decreases, and as price decreases, quantity demanded increases. The document outlines the four main types of demand: price demand, income demand, cross demand, and complementary demand. It provides examples and definitions for each type of demand. The document concludes by assigning homework for students to revise the content.

1. WELCOME
TODAY WE ARE GOING TO DISCUSS ABOUT
DEMANDANDTYPES OF DEMAND
Dr.S.vaidehi
Assistant professorof economics

2. What do you understand from
this picture ?

3. WHAT IS DEMAND ?
In economics, demand is the quantity of a
good that consumers are willing and able to
purchase at various prices during a given period of
time. The relationship between price and quantity
demanded is also known as the demand curve.
Preferences which underlie demand, are
influenced by cost, benefit, odds and other
variables.

4. DEFINITION
The Demand for a product refers to the quantity
of goods and services that the consumers are
willing to buy at a particular price for a given
point of time.
In microeconomics, the law of demand states that,
"conditional on all else being equal, as the price of a
good increases (↑), quantity demanded decreases (↓);
conversely, as the price of a good decreases (↓),
quantity demanded increases (↑)".
Law of Demand

6. DEMAND CURVE

7. TYPES OF DEMAND
Demand
Price
Demand
Income
Demand
Cross
Demand

8. PRICE DEMAND
The demand is often studied in
parlance to price, and is therefore
called as a price demand. The price
demand means the amount of
commodity a person is willing to
purchase at a given price.

9. INCOME DEMAND
The income demand refers to the willingness of
an individual to buy a certain quantity at a given
income level. Here the price of the product,
customer’s tastes and preferences and the
price of the related goods are expected to
remain unchanged. There is a positive
relationship between the income and demand.
As the income increases the demand for the
commodity also increases and vice-versa.

10. CROSS DEMAND
It is one of the important types of demand
wherein the demand for a commodity depends
not on its own price, but on the price of other
related products is called as the cross demand.
Such as with the increase in the price of coffee
the consumption of tea increases, since tea and
coffee are substitutes to each other. Also, when
the price of cars increases the demand for petrol
decreases, as the car and petrol
are complimentary to each other

11. REVISION AND HOME WORK
Revise the portion
Practice the Diagram
Study the Meaning,
law of Demand and types of
Demand

12. THANK YOU