1. A product or service is said to have demand when three conditions are satisfied: 1. Desire to purchase. 2. Willingness to pay 3. Ability to pay Unless all these conditions…
PowerPoint Presentation Chapter 3 Demand and Supply Analysis 1 Lecture Plan Objectives Demand Types of demand Determinants of demand Demand function Law of demand Demand…
1.DEMAND ANALYSISMeaning of DemandDemand implies 3 conditions : Desire for a commodity or service Ability to pay the price of it Willingness to pay the price of…