This document defines demand and determinants, and provides reasons for pursuing an MBA. It then gives an example analyzing the demand for an MBA program at FIMS college based on income, consumer preferences, number of buyers, price of related goods, and expectations of future returns. It finds that while income may not affect demand, the other factors like preferences, number of admissions, prices at other colleges, and expectations of higher post-MBA salaries are increasing demand for the FIMS MBA program. The document also briefly defines price elasticity and lists factors that can make demand more or less elastic.