This document provides an overview of demand, including defining demand, discussing demand schedules and curves, factors that cause shifts in demand, and elasticity of demand. It discusses key concepts like the law of demand, substitution and income effects, normal and inferior goods, complements and substitutes. It also provides assignments for students to demonstrate their understanding, including defining changes in demand vs quantity demanded graphically and answering questions about elasticity.
In microeconomics, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers, resulting in an economic equilibrium for price and quantity.
In microeconomics, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers, resulting in an economic equilibrium for price and quantity.
Shifts In Demand And Supply And Market EquilibriumShikhar Bafna
1. APPLICATION OF DEMAND AND SUPPLY
2. MARKET EQUILIBRIUM
3. SHIFT IN DEMAND AND SUPPLY
+ABSTRACT OF TOPICS TO BE COVERED:
1. PRICE DETERMINATION UNDER PERFECT COMPETITION
2. EQULIBRIUM PRICE (PERFECT COMPETITION)
WITH THE HELP OF MARKET EQUILIBRIUM, MARKET DEMAND, MARKET SUPPLY AND THE EQUILIBRIUM BETWEEN DEMAND AND SUPPLY AND EFFECTS OF GOVERNMENT INTERVENTION ON MARKET PRICE.
3. EFFECTS OF SHIFT IN DEMAND AND SUPPLY ON EQUILIBRIUM PRICE AND QUANTITY
A.RIGHTWARD AND LEFTWARD SHIFT IN DEMAND
B.RIGHTWARD AND LEFTWARD SHIFT IN SUPPLY
C.SIMULTANEOUS RIGHTWARD AND LEFTWARD SHIFT IN BOTH DEMAND AND SUPPLY
WITH THE HELP OF GRAPHS FOR EACH CASE.
4. CAUSES OF SHIFT IN DEMAND CURVES
5. CAUSES OF SHIFT IN SUPPLY CURVES
In economics, demand is an economic principle that describes a consumer's desire, willingness and ability to pay a price for a specific good or service. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship.The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time.
Based on the law of demand, buyers are willing and able to purchase more goods and services at lower prices than at higher prices. These are natural reactions or inclination of buyers. These are natural reactions vary depending on the importance and availability of the goods and services. These varying reactions are known as demand elasticities.
Case studies using Demand and Supply ConceptManish Kumar
This is a case study. Case is :
As one example of demand and supply analysis, let us assume we have a product with the situation shown in the graph below.
The price is Rs.100 per unit.Now the government has imposed 5% tax to the seller which increased the cost of production. Please explain following with the support of graph:
Do the cost of production affects Demand or Supply
Will there be a shift or movement along supply
Will the cost of production will make the good less profitable
In order to make the same profit as before application of tax, how much price the seller should increase presuming that the (i) demand of the product is totally inelastic and (ii) demand of the product is perfectly elastic
What are the factors which affects the demand and supply of any product
Shifts In Demand And Supply And Market EquilibriumShikhar Bafna
1. APPLICATION OF DEMAND AND SUPPLY
2. MARKET EQUILIBRIUM
3. SHIFT IN DEMAND AND SUPPLY
+ABSTRACT OF TOPICS TO BE COVERED:
1. PRICE DETERMINATION UNDER PERFECT COMPETITION
2. EQULIBRIUM PRICE (PERFECT COMPETITION)
WITH THE HELP OF MARKET EQUILIBRIUM, MARKET DEMAND, MARKET SUPPLY AND THE EQUILIBRIUM BETWEEN DEMAND AND SUPPLY AND EFFECTS OF GOVERNMENT INTERVENTION ON MARKET PRICE.
3. EFFECTS OF SHIFT IN DEMAND AND SUPPLY ON EQUILIBRIUM PRICE AND QUANTITY
A.RIGHTWARD AND LEFTWARD SHIFT IN DEMAND
B.RIGHTWARD AND LEFTWARD SHIFT IN SUPPLY
C.SIMULTANEOUS RIGHTWARD AND LEFTWARD SHIFT IN BOTH DEMAND AND SUPPLY
WITH THE HELP OF GRAPHS FOR EACH CASE.
4. CAUSES OF SHIFT IN DEMAND CURVES
5. CAUSES OF SHIFT IN SUPPLY CURVES
In economics, demand is an economic principle that describes a consumer's desire, willingness and ability to pay a price for a specific good or service. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship.The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time.
Based on the law of demand, buyers are willing and able to purchase more goods and services at lower prices than at higher prices. These are natural reactions or inclination of buyers. These are natural reactions vary depending on the importance and availability of the goods and services. These varying reactions are known as demand elasticities.
Case studies using Demand and Supply ConceptManish Kumar
This is a case study. Case is :
As one example of demand and supply analysis, let us assume we have a product with the situation shown in the graph below.
The price is Rs.100 per unit.Now the government has imposed 5% tax to the seller which increased the cost of production. Please explain following with the support of graph:
Do the cost of production affects Demand or Supply
Will there be a shift or movement along supply
Will the cost of production will make the good less profitable
In order to make the same profit as before application of tax, how much price the seller should increase presuming that the (i) demand of the product is totally inelastic and (ii) demand of the product is perfectly elastic
What are the factors which affects the demand and supply of any product
Unit 3 [299 Associate’s Capstone in Management] P.docxdickonsondorris
Unit 3 [299: Associate’s Capstone in Management]
Page 1 of 4
Assignment Details and Rubrics
There are two Assignments to complete.
Assignment #1: HR Technology and Leadership
Research technology used in human resource management on the Internet:
Checklist:
• Take one of the tutorials in HR technology available on the Internet.
• Describe the technology that was demonstrated for use in HR.
• Discuss the benefit of this technology as it is applied to human resources.
• Describe the types of businesses to which this technology would ideally apply.
• Examine whether the technology you discovered would be a good investment for
Tim’s Coffee Shoppe. Then discuss reasons as to why or why not.
• Based on your leadership reading in the Reading area respond to the following:
To add any appropriate new HR technology to Tim's which leadership style
should Tim ideally use to make this transition from the previous system to
the new one successful and why?
View the Assignment #1 rubric. Submit your paper in APA format and citation style. Your paper
should be a minimum of 4 pages in length that includes a title page and references page.
Submit your Assignment to the Dropbox area in the course.
Unit 3 Assignment #1- Percent
possible
Points
possible
Points
Earned
Comments
Content per Checklist 100% 40
Analysis, critical thinking and correct
response to checklist items: (80%)
• Describe technology demonstrated for
use in HR and discuss the benefit of
the technology as applied to HR.
Unit 3 [299: Associate’s Capstone in Management]
Page 2 of 4
20%
8
• Describe the types of businesses to
which this technology would ideally
apply.
20%
8
• Examine whether this technology
would be a good investment for Tim’s
and discuss why or why not.
20%
8
Based on your leadership reading in the
Reading area respond to the following:
• To add any appropriate new HR
technology to
Tim's which leadership style should Tim
ideally use to make this transition from the
previous system to the new one
successful and why?
20%
8
Subtotal: 80% 32
Writing, spelling, and grammar /minimum 4
pages in APA format and citation style that
includes titles and references pages
20%
8
Percent Total
Points
possible
Your Score: 100% 40
Assignment #2: Journal Assignment
Topic: Handling a Job Application and Business Legal Compliance
Unit 3 [299: Associate’s Capstone in Management]
Page 3 of 4
Scenario: An applicant who is 60 years of age and disabled (in a wheelchair) enters the HR
Department to apply for a front desk position in a hospital. The hospital has over 400
employees. This position requires that from time to time, the desk person escort the visitor
back to the particular department. Discuss how this applicant’s application should be handled.
Checklist:
• Identify the ...
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
2. Group Work/Presentations
• Directions:
– Read the section that refers to your question(s).
– Prepare a presentation to teach your term(s) to
the class. Be sure to answer all questions from
your chapter or section.
– Add something from that section/chapter that
you think may be important/interesting for your
classmates to know.
– Create a visual aid as part of your presentation
for your chapter (skit, drawing, illustration, etc.)
6. What is Demand?
• Demand – the desire and ability to buy
something
• The law of demand states that consumers buy
more of a good when its price decreases and less
when its price increases.
• This is because of the substitution effect and the
income effect.
7. Demand Schedule
• A demand schedule is a table that lists the
quantity of a good a person will buy at each
different price.
• A market demand schedule is a table that
lists the quantity of a good all consumers in a
market will buy at each different price.
8. Demand Curve
• The demand curve is always downward sloping.
• Change in Quantity Demanded – a movement
along the demand curve, a result of the change in
the price of a good
• Change in Demand – a shift in the demand curve
9. What Causes Shifts in Demand?
1. Income
Changes in consumers incomes affect demand. A
normal good is a good that consumers demand more
of when their incomes increase. An inferior good is a
good that consumers demand less of when their
income increases.
2. Consumer Expectations
Whether or not we expect a good to increase or
decrease in price in the future greatly affects our
demand for that good today.
10. What Causes Shifts in Demand?
3. Population
Changes in the size of the population also
affects the demand for most products.
4. Consumer Tastes and Advertising
Advertising plays an important role in many
trends and therefore influences demand.
11. 5. Change in Demand for Other Goods
Complements are two goods that are bought
and used together. Example: skis and ski
boots
Substitutes are goods used in place of one
another. Example: skis and snowboards
What Causes Shifts in Demand?
12. Jumpstart Assignment
• Describe the difference between a change in
demand and a change in quantity demanded,
then show what it looks like graphically.
13. Elasticity of Demand
• Elasticity of demand is a measure of how
consumers react to a change in price.
• Demand for a good that consumers will continue
to buy despite a price increase
is inelastic.
14. Elasticity of Demand
• Demand for a good that is very sensitive to
changes in price is elastic.
15. Total Revenue Test
• Elastic Demand – TR will increase with a drop in
price.
• Inelastic Demand – TR will decrease with a drop
in price.
16. Factors Affecting Elasticity of Demand
• Availability of Substitutes
• Relative Importance (portion of budget)
• Necessities vs. Luxury
• Time