Top Menu

Tag Archives | Demand

Price Elasticity of Demand: Examples, Types, Determinants and Formulas

In this article we will discuss about:- 1. Introduction to Price Elasticity of Demand 2. Diagrammatic Representation of Price Elasticity 3. Types 4. Errors 5. Factors 6. Measurement 7. Formulas and 8. Examples. Introduction to Price Elasticity of Demand: We have evolved an inverse price-quantity relationship for a product under the law of demand. It shows […]

Notes on the Theory of Demand | Economics

Notes on the Theory of Demand:- 1. Meaning and Definitions of Demand 2. Notes on Demand Function 3. Factors Determining Individual Demand 4. Factors Determining Market Demand 5. Demand Schedule 6. Demand Curves 7. Law of Demand 8. Movement along a Demand Curve and Shifts in the Demand Curve 9. Kinds of Demand 10. Inter-Related […]

Relationship between Price Elasticity of Demand and Total Expenditure | Microeconomics

Prof. Marshall works out a relationship between price elasticity of demand and total expenditure. He estimates the degree of price elasticity of demand depending on the change in total expenditure caused by a change in own price of the commodity. He states three different situations, as under: Situation 1 – Ed = Unitary or Ed […]

hit counter