Effective Demand : These willing and able to buy a good / service at agiven price in a giventime period
types of demand
Joint Demand When 2 goods / services :
are demanded together / complementary
Eg Printer+ Inn Tennis
.
,
racket + Ball
Competitive Demand :
When consumers can choose between 2 products /substitutes
Eg Coke
. or Pepsi
Composite Demand
:
When demand for a good has multiple uses t can fulfill multiple purposes
Eg Oil → Petrol looming making plastics
.
,
,
shifts in demand
Income
Trends
price of compliment
price of substitutes
Types of supply
competitive Supply :
Using FOP to produce products thatwill give a firm the highest amount of profit
Joint supply when a time can create 2 different products from
:
one production process
shifts in supply
changes in Cop
Subsidies
Indirect tax
Price of similar goods increase
Cetoris Parables All things being equal
:
types of demand
Joint Demand When 2 goods / services :
are demanded together / complementary
Eg Printer+ Inn Tennis
.
,
racket + Ball
Competitive Demand :
When consumers can choose between 2 products /substitutes
Eg Coke
. or Pepsi
Composite Demand
:
When demand for a good has multiple uses t can fulfill multiple purposes
Eg Oil → Petrol looming making plastics
.
,
,
shifts in demand
Income
Trends
price of compliment
price of substitutes
Types of supply
competitive Supply :
Using FOP to produce products thatwill give a firm the highest amount of profit
Joint supply when a time can create 2 different products from
:
one production process
shifts in supply
changes in Cop
Subsidies
Indirect tax
Price of similar goods increase
Cetoris Parables All things being equal
:
