Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
History of macroeconomic thought wikipedia , lookup
Economics of digitization wikipedia , lookup
Economic calculation problem wikipedia , lookup
Ragnar Nurkse's balanced growth theory wikipedia , lookup
Icarus paradox wikipedia , lookup
Brander–Spencer model wikipedia , lookup
Macroeconomics wikipedia , lookup
Economic equilibrium wikipedia , lookup
DEMAND AND ITS DETERMINANTS Sudhit Sethi Demand Demand refers to that particular quantity of commodity that a consumer is willing to and able to purchase at a particular price. A careful analysis of determinants of demand is very useful to a Firm because it enables the Firm to forecast its sales and adjust the production accordingly. Main determinants of Demand are as follows: Price of Commodity Price of Related Goods Income of Consumer Tastes & Preferences of Consumer Change in Population Climatic Conditions Conclusion All the determinants of Demand are very important. A Business Firm should have knowledge and information about all these factors in order to finalize its own production and marketing strategies. Firm should not ignore any of the factors determining Demand as it may lead to incorrect forecast of Sales. References Business Economics - M.M Gupta Macroeconomic Policy Environment – Shyamal Roy Macroeconomics – Dornbusch & Fischer