Transcript Document

Nikolashkina Anna 11A
Teacher of Economics
Rafalskaya Irina
• Demand- the desire and ability of consumers
to buy a certain quantity of goods or services
at a specified price within a specified period of
The level of demand
• The level of demand - the quantity of goods
that consumers want and can to buy at a
given price.
The law of demand.
• The law of demand: the less the price of a
product, the more consumers want to buy it,
and conversely, the higher the price of goods,
the less the consumer wants to buy it.
Change in demand
Non-price factors:
climatic or seasonal changes;
changes in income;
changes in style, taste, habits;
prospective expectations;
the price of goods - substitutes;
Change in demand
If demand increases then the demand curve
shifts to the right (D1).
If demand decreases, the demand curve shifts
to the left (D2).
• Elasticity describes effect of price changes on
the quantity demanded.
• If the effect of price changes is relatively small,
the demand for these goods is inelastic.
• If demand is elastic, small changes in price can
have significant changes in the demand for
Causes of inelastic demand
essential goods
goods that are difficult to change
low cost goods
Hopeless situation for the consumer