write a notes on demand about fifteen marks??
Answers
Notes on Demand.
Explanation:
Demand refers to the overall demand for a product or a service by all the customers in the market.
Demand is indirectly proportional to the price of the goods.
In the price of any good or services increases, the demand of the same good or service in go down.
If demand is more than supply the price of a good will increase due to the scarcity of goods.
It is also a general conception that human demand is always more than what they need. Therefore, the resources are always limited and the demands are always unlimited.
Apart from the price of the product, there are other factors as well which affect the demand for any product. These are the availability of substitutes, competition in the market, nature of the product, etc.