Know concepts of demand and facilitate yourself with better Demand Assignment Help
Economics is a subject requires you to publish the practical yet the theoretical content in the assignments so that it facilitates better acquaintance with the subject. You may think that economics assignments can merely be submitted without taking care of minor details such as the case studies, graphical representation etc. However, this thinking hampers your efficiency and brings down your performance. Especially a subject matter like Demand, you may consider it easier and less time consuming than others. Nonetheless, it becomes quite difficult to work without Demand Assignment Help.
As demand is one of the basic concept that forms the foundation of the subject. As by the famous saying, “a parrot who learns the words demand and supply is an economist”, it displays the significance of understanding the subject with Demand Homework Help.
Demand in economics refers to the amount of quantity that the consumers are willing to purchase at a given period with the available resources at the current price level. Demand has an inverse relationship with the price.
Factors affecting demand of a consumer
Several factors affect the demand of consumers, which either increases the demand of, decreases it. The following are such determinants-
- Price of the commodity
- Income of the Consumer
- Price of related goods
- Consumers’ Tastes and preferences
- Population of the nation
- Consumers’ expectations regarding future prices
- Nature of the good
These determinants have a vast role to play in the demand of the consumers, making it an important portion of the students’ concern. It holds significant connotation in the development of appropriate assignments and one of the reasons why seeking Demand Assignment Help is a good idea.
Law of demand
Law of demand states that while other determinants remain constant change in the price results in the change of demand i.e. increase in the price results in decrease in the demand and vice versa.
When the price rises from point p3 to point p2 the quantity demanded reduces from Q3 to Q2 so on and so forth. This results in the negatively sloping demand curve.
Exceptions of Law of Demand
Exception of law of demand states that when there is increase in the price of the commodity the demand for it increases and when there is a decrease in the price demand for it decreases.
Unlike the normal demand curve that is negative, the demand curve in the above graph is positively sloping, as there is a positive relationship between the demand and the price of a commodity.
The concept of demand is simple yet comprehensive. You may face confusions during conducting the assignments but with Demand Homework Help, you get an opportunity to score well as well as get proficient assistance for the subject.
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