Nature of demand - ENGINEERING ECONOMICS & FINANCIAL ACCOUNTING - DR.K.BARANIDHARAN, SRI SAIRAM INSTITUTE OF TECHNOLOGY, CHENNAI

Aug 10, 2014Download as PPTX, PDF1 like612 views

Prepared by :
Dr. K. BARANIDHARAN
PROF.MBA
SRI SAIRAM INSTITUTE OF TECHNOLOGY
CHENNAI
ENGINEERING ECONOMICS
AND
FINANCIAL ACCOUNTING
Sri Sairam Institute of Technology 2

Engineering
Economics& Financial
Accountingment
Ee&fa
310 August 2014

Nature of DEMAND
• The nature of demand is better understood
when we see these variations as follows:
• Consumer goods vs producer goods
• Autonomous demand vs derived demand
• Durable vs perishable goods
• Firm demand vs industry demand
• Short-run demand vs long-run demand
• New demand vs replacement demand
4

Consumer goods vs producer goods
• The goods can be grouped under consumer
goods and producer goods.
• Cg refers to such product and services,
which are capable to satisfying human
needs.
• Cg are those which are available for
ultimate consumption.(give direct and
immediate satisfaction)
• Example: bread, apple, rice, etc
5

• Pg are those which are used for further
processing or production of goods/service to
earn to INCOME.
• This goods yield indirect satisfactionand are used
to produce cg
• Example: machinery , tractor etc.,
• The product may be both pg & cg
• The farmer having 10 bags of paddy, 5 bags
personel use, next 5 bags as SEEDS for the next
crop.
• PADDY is both pg & cg
6

Autonomous demand vs derived demand
• Ad refers to direct demand for product and
services.
• Example: the demand for the service of a
super-specialty hospital can be consider ad
• Dd the demand for the product arises out of
the purchase of a parent product.
• Example: the demand for hotel around that
hospital is called dd.
• A demand for houses is autonomous whereas
a demand for these input is derived.
7

Durable vs perishable goods
• Durable goods are those goods
that give service for relatively long
period.
• Example: rice, sugar etc.,
• The life of perishable goods is very
small –a few hours or days.
• Example: vegetable, milk, fish etc.,
8

Firm demand vs industry demand
• A firm is a single business unit.
• The quantity of goods demanded by a single
firm is called fir demand.
• Example: a construction company may use
100 tonnes of cement during the month….fd
• The group of firm carrying on similar activities.
• The quantity demanded by the industry as a
whole is called industry demand.
• Example: the construction industry particular
state may have used 10 million tonnes.
9

Short-run demand vs long-run demand
• The demand for a particular product or
service in a given REGION for a particular
DAY can be viewed as a shor-run demand.
• Example: available taste and technology
• The demand for a longer period for the
same region can be viewed as a long-run
demand.
• Example: changes in design and technology
10

New demand vs replacement demand
• The demand for a new product and it
is in addition to the existing stock.
• Example: new model car
• The item of purchase to maintain the
asset in good condition
• Example: replacement of car spare
parts
11

Total markets vs Segment market
• The total demand for a product in the
region is the total market demand.
• Example; sugar, rice
• The demand for the sugar from the
sweet industry from the region is the
segment (specific criteria)market
demand.
• Example: age, gender, income,
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Nature of demand - ENGINEERING ECONOMICS & FINANCIAL ACCOUNTING - DR.K.BARANIDHARAN, SRI SAIRAM INSTITUTE OF TECHNOLOGY, CHENNAI

2. Prepared by : Dr. K. BARANIDHARAN PROF.MBA SRI SAIRAM INSTITUTE OF TECHNOLOGY CHENNAI ENGINEERING ECONOMICS AND FINANCIAL ACCOUNTING Sri Sairam Institute of Technology 2

3. Engineering Economics& Financial Accountingment Ee&fa 310 August 2014

4. Nature of DEMAND • The nature of demand is better understood when we see these variations as follows: • Consumer goods vs producer goods • Autonomous demand vs derived demand • Durable vs perishable goods • Firm demand vs industry demand • Short-run demand vs long-run demand • New demand vs replacement demand 4

5. Consumer goods vs producer goods • The goods can be grouped under consumer goods and producer goods. • Cg refers to such product and services, which are capable to satisfying human needs. • Cg are those which are available for ultimate consumption.(give direct and immediate satisfaction) • Example: bread, apple, rice, etc 5

6. • Pg are those which are used for further processing or production of goods/service to earn to INCOME. • This goods yield indirect satisfactionand are used to produce cg • Example: machinery , tractor etc., • The product may be both pg & cg • The farmer having 10 bags of paddy, 5 bags personel use, next 5 bags as SEEDS for the next crop. • PADDY is both pg & cg 6

7. Autonomous demand vs derived demand • Ad refers to direct demand for product and services. • Example: the demand for the service of a super-specialty hospital can be consider ad • Dd the demand for the product arises out of the purchase of a parent product. • Example: the demand for hotel around that hospital is called dd. • A demand for houses is autonomous whereas a demand for these input is derived. 7

8. Durable vs perishable goods • Durable goods are those goods that give service for relatively long period. • Example: rice, sugar etc., • The life of perishable goods is very small –a few hours or days. • Example: vegetable, milk, fish etc., 8

9. Firm demand vs industry demand • A firm is a single business unit. • The quantity of goods demanded by a single firm is called fir demand. • Example: a construction company may use 100 tonnes of cement during the month….fd • The group of firm carrying on similar activities. • The quantity demanded by the industry as a whole is called industry demand. • Example: the construction industry particular state may have used 10 million tonnes. 9

10. Short-run demand vs long-run demand • The demand for a particular product or service in a given REGION for a particular DAY can be viewed as a shor-run demand. • Example: available taste and technology • The demand for a longer period for the same region can be viewed as a long-run demand. • Example: changes in design and technology 10

11. New demand vs replacement demand • The demand for a new product and it is in addition to the existing stock. • Example: new model car • The item of purchase to maintain the asset in good condition • Example: replacement of car spare parts 11

12. Total markets vs Segment market • The total demand for a product in the region is the total market demand. • Example; sugar, rice • The demand for the sugar from the sweet industry from the region is the segment (specific criteria)market demand. • Example: age, gender, income, 12

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Nature of demand - ENGINEERING ECONOMICS & FINANCIAL ACCOUNTING - DR.K.BARANIDHARAN, SRI SAIRAM INSTITUTE OF TECHNOLOGY, CHENNAI

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