Demand%20Curve - Demand schedule 4/2/2010 3 • Individual...

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4/2/2010 1 Learning Outcomes: - Understand concept of ‘demand’ - Identify nature of demand curve - Individual demand vs market demand DEMAND In the market, buyers demand goods and services Demand : The quantities of a good that consumers are willing and able to buy at different prices in a specified period
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4/2/2010 2 Effective Demand: • When consumers’ desire to buy a good is backed up by an ability to pay for it. • They must have sufficient purchasing power
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Unformatted text preview: Demand schedule 4/2/2010 3 • Individual Demand: Refer to quantity of goods & services that an individual are willing, able, and desire to purchase at various prices in a specified period • Market Demand: Refer / consists sum of all individual demand schedules in the market Price per unit (RM) DD individual A (unit) DD individual B (unit) DD market (unit) 5 3 3 4 5 3 8 3 7 6 13 2 9 9 18 1 11 12 23...
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Demand%20Curve - Demand schedule 4/2/2010 3 • Individual...

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