features bof demand explian with rxamplea
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The word 'demand' is so common and familiar with every one of us that it seems superfluous to define it. The need for precise definition arises simply because it is sometimes confused with other words such as desire, wish, want, etc.
Example:- If the cost of milk is rs.20 per litre then a person may demand for at least 5 litres daily. Hence the demand will always be different for others. Here, the total cost of milk required by the person would be Rs. 100
Example:- If the cost of milk is rs.20 per litre then a person may demand for at least 5 litres daily. Hence the demand will always be different for others. Here, the total cost of milk required by the person would be Rs. 100
MissAman:
what do u mean by demand at a point of time ?
with example
Here the point of time would be a day
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