Demand And Supply And Demand Essay

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NTCC PROJECT DEMAND AND SUPPLY BY:­ SHUBHAM PACHORY B.COM HONS.(EVENING) ROLL NO ­44 ABSTRACT There is no law of “supply and demand”. there are two separate laws of demand and law of supply. A demand curve is a graphical depiction of the law of demand. It has negative slope. Substitutes are goods that can be consumed in place of each other. Complementary are goods that consumes together. Demand and supply affected by price of the commodity, income of the consumer, change in technology, price of goods itself etc. there is a inverse relationship between price and quantity in demand and direct relationship between price and quantity in supply. INTRODUCTION OF DEMAND MEANING OF DEMAND Its refer to the quantity of the commodity, that a consumer is willing to buy at a particular price and at a particular time . demand depends upon the taste and preferences of the consumer, income of the consumer or other factor. Demand depends on the market condition. If market are going in rising trend, demand will decrease and if market are going in rising trend, demand will increase. FACTORS AFFECTING DEMAND 1. PRICE OF THE GOOD increase in price ­ consumer purchases less commodities. decrease in price ­ consumer purchases more commodities. 2. PRICE OF OTHER GOODS There are two types of other goods, a) Substitute Good b) Complementary Good Substitute Good For ex­ tea and coffee. We can use these products in place of each other. Complementary Good

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