what is demand and law
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Hi Amarshaw752,
Here's your answer...
Demand is the price Vs the quantity of a commodity demanded or purchased or requested from customers or vendors.
P vs Q curve.
This is the curve as perceived by the producer or manufacturer.The customer/consumer wants to buy more quantities at a time only if the price per item reduces (bargain). Otherwise there is no advantage of buying in larger quantities. Manufacturer also benefits from this sale or transaction as larger quantity of a commodity is disposed of into market. Even though profit on an item of commodity is lesser, the total profit on the manufacturing and sales processes will be more for the manufacturer. So for normal goods the demand curve slopes down vs quantity of commodity. The market demand is the aggregation of the total demand of all consumers and customers. The market supply is the aggregate of all manufacturers. The total capacity of the consumers remains more or less same over a period of time. Demand of one manufacturer increases, then it is compensated by the reduction of demand on another manufacturer goods. So the aggregate market demand remains more or less constant. So the market demand curve is flatter than the individual demand curve.
law -The system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties..
Hope it helps...
Unnati ( ✯ Brainly star ✯ )
Please mark brainiest..
Here's your answer...
Demand is the price Vs the quantity of a commodity demanded or purchased or requested from customers or vendors.
P vs Q curve.
This is the curve as perceived by the producer or manufacturer.The customer/consumer wants to buy more quantities at a time only if the price per item reduces (bargain). Otherwise there is no advantage of buying in larger quantities. Manufacturer also benefits from this sale or transaction as larger quantity of a commodity is disposed of into market. Even though profit on an item of commodity is lesser, the total profit on the manufacturing and sales processes will be more for the manufacturer. So for normal goods the demand curve slopes down vs quantity of commodity. The market demand is the aggregation of the total demand of all consumers and customers. The market supply is the aggregate of all manufacturers. The total capacity of the consumers remains more or less same over a period of time. Demand of one manufacturer increases, then it is compensated by the reduction of demand on another manufacturer goods. So the aggregate market demand remains more or less constant. So the market demand curve is flatter than the individual demand curve.
law -The system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties..
Hope it helps...
Unnati ( ✯ Brainly star ✯ )
Please mark brainiest..
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