Define demand , law of demand, discuss the variation of demand( BCA - 3sem)

Definition of Law of Demand

Demand analysis mean the study of factors which effect the demand of product and service. It include demand function , Market demand ,manipulated of demand.

It means  various quantity of given product or service which customer purchase in one market at various price.

Types of Demand

1). Market segment demand

2). Joint demand

3). Indirect and direct demand

Objective of Demand

1). Demand for casting.

2). Sales for casting.

3). Long terms & short term investment program.

4). Inventory control system.

Determinants of Demand

1). Around of money.

2). Weather conditions

3). Income of consumer.

4). Price of commodity.

5). Population of growth.

Law of Demand

The low of Demand explain the relationship b/w exchange of quantity of refers to direction in which demand change with a change in price.

For example:- custom , Digital goods , etc.

Variation of Demand

Variation of demand is two types of variation. The output or result of a system process because mostly system any time work in a human .

1). Movement along the demand curve:-

    a) Extension of Demand

     b) Contraction in Demand

2). Shift in demand curve:-

         a) Increase in demand

         b) Decrease in demand

        

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