This document discusses the economics of demand. It begins by defining demand and the law of demand, which states that quantity demanded varies inversely with price, assuming other factors remain constant. It then explains the concepts of the demand curve and demand schedule. Individual demand curves can be added together to form a market demand curve. The document also covers elasticity of demand, how it is calculated, and factors that influence elasticity like availability of substitutes. It provides examples of elasticity estimates for different products and concludes by discussing other determinants of demand like income, prices of related goods, and consumer tastes and expectations.
CA NOTES ON THEORY OF DEMAND AND SUPPLY IN BUSINESS ECONOMICS
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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
CA NOTES ON THEORY OF DEMAND AND SUPPLY IN BUSINESS ECONOMICS
FREE AFFIDAVITS AND NOTICES FORMATS
FREE AGREEMENTS AND CONTRACTS FORMATS
FREE LLB LAW NOTES
FREE CA ICWA NOTES
FREE LLB LAW FIRST SEM NOTES
FREE LLB LAW SECOND SEM NOTES
FREE LLB LAW THIRD SEM NOTES
FREE LLB LAW FOURTH SEM NOTES
FREE LLB LAW FIFTH SEM NOTES
FREE LLB LAW SIXTH SEM NOTES
FREE CA ICWA FOUNDATION NOTES
FREE CA ICWA INTERMEDIATE NOTES
FREE CA ICWA FINAL NOTES
KANOON KE RAKHWALE INDIA
HIRE LAWYER ONLINE
LAW FIRMS IN DELHI
CA FIRM DELHI
VISIT : https://www.kanoonkerakhwale.com/
VISIT : https://hirelawyeronline.com/
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
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What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
2. 2
Demand
Why are newspapers sold in vending
machines that allow you to take more than
one copy?
How much do you eat when you can eat all
you want?
What cures ‘spring fever’?
What economic principle is behind the
saying, “Been there, done that”?
Why do higher cigarette taxes cut smoking
by teens more than by other age groups?
Consider
3. 3
The Demand Curve
Explain the law of demand
Interpret a demand schedule and
demand curve
Objectives
4. 4
The Demand Curve
demand
law of demand
marginal utility
law of diminishing marginal utility
demand curve
quantity demanded
individual demand
market demand
Key Terms
5. 5
Demand
Demand indicates how much of a
product consumers are both willing
and able to buy at each possible price
during a given period, other things
remaining constant.
6. 6
Law of Demand
The law of demand says that quantity
demanded varies inversely with price, other
things constant. Thus, the higher the price,
the smaller the quantity demanded.
7. 7
Law of Demand
Demand, wants, and needs
Substitution effect
The change in the relative price (the price of one good relative to the
prices of other goods) causes the substitution effect
If all prices changed by same margin, there would be no substitution
effect
Income effect
Money income – the number of dollars you receive per period
Real income – measure in terms of how many goods and services
you can buy
Diminishing marginal utility
Marginal utility – additional satisfaction you derive from each item
Law of marginal utility you derive from each additional item
consumed decreases as your consumption increases (example:
pizza slices)
12. 12
$12
8
4
Price
1 2 3 Pizzas
(per week)
(d) Market demand for pizzas
6
Market Demand for Pizzas
dH
dB
dC
D
+ + =
13. 13
Elasticity of Demand
Compute the elasticity of demand and
explain its relevance.
Discuss factors that influence
elasticity of demand.
Objectives
14. 14
Computing the
Elasticity of Demand
Elasticity of demand measures the
percentage change in quantity demanded
divided by percentage change in price.
Elasticity
of
demand
=
Percentage change in
quantity demanded
Percentage
change in price
15. 15
Computing
Elasticity of Demand
Elasticity values
>1 it is elastic
Percentage change in price will result in larger percentage
change in the quantity demanded
=1 it is unit-elastic
<1 it is inelastic
Demand is usually more elastic at higher prices and
less elastic with lower prices
Elasticity and total revenue
Price x’s quantity demanded at that price
16. 16
8 14 20 26 32
Millions of pizzas per week
$15
12
9
6
3
0
Price
per
pizza
The Demand for Pizza
D
17. 17
Determinants of
Demand Elasticity
Availability of substitutes
The greater the availability of substitutes for a good, the greater
the good’s elasticity of demand
Share of consumer’s budget spent on the good
Increase in prices reduced the demand because people are not
both willing and able to purchase @ higher prices
A matter of time
The longer the adjustment period, the greater the consumer’s
ability to substitute
Some elasticity estimates
The elasticity of demand is greater in the long run because
consumers have more time to adjust
18. 18
50 75 95100 Millions of gallons per day
0
$1.25
1.00
Price
per
gallon
Dy
Dm
Dw
Demand Becomes
More Elastic Over Time
19. 19
Selected
Elasticities of Demand
Product Short Run Long Run
Electricity (residential) 0.1 1.9
Air travel 0.1 2.4
Medical care and hospitalization 0.3 0.9
Gasoline 0.4 1.5
Movies 0.9 3.7
Natural gas (residential) 1.4 2.1
21. 21
Changes in Consumer
Income
If income ↑, consumers willing and
able to buy more which ↑ demand
Demand curve shifts to the right
Two categories of goods:
Normal goods – demand increases as
money income increases
Inferior goods – demand decreases as
money income increases
Examples: used clothing, bus rides, etc.
22. 22
Changes in the Prices of
Related Goods
Substitutes
Decrease in price of one item will reduce
the demand for a substitute
Example: Tacos and Pizza
Complements
Certain goods used together
Example: airline tickets and car rentals
A decrease in the price of one shifts the
demand of the other rightward
23. 23
Changes in Prices of
Related Goods (cont)
Changes in size or composition of the
population will increase demand and shift
the curve to the right
Changes in consumer expectations can
shift the demand curve to the left or the
right
Changes in consumer tastes
Tastes are your likes and dislikes as a consumer
24. 24
Movement along
the Curve
Movement vs. Shift
A change in price, causes a movement
along the demand curve, changes the
quantity demanded
A change in one of the determinants of
demand other than price causes a shift of
a demand curve