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

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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

Types of DEMAND
•Demand can be of three
types:
•1. Price Demand
•2. Income Demand
•3. Cross demand
4

Price DEMAND
•Price demand refers to
the quantity of a
particular product or
service demanded at a
given price
5

Income DEMAND
•Income demand refers to
the quantity of a particular
product or service
demanded at a given level
of income of a consumer or
household.
6

Cross DEMAND
• Cross demand refers to the
quantity demanded for a
particular product or service,
given the price of a related good.
• The related good may be
complementary or a substitute…
7

• Example:
• 1.Tyres and tubes are
complementary goods (one
cannot go without the other)
• 2.Tea and Coffee are
substitutees. Take one and
you have to leave the other.
8

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Types 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. Types of DEMAND •Demand can be of three types: •1. Price Demand •2. Income Demand •3. Cross demand 4

5. Price DEMAND •Price demand refers to the quantity of a particular product or service demanded at a given price 5

6. Income DEMAND •Income demand refers to the quantity of a particular product or service demanded at a given level of income of a consumer or household. 6

7. Cross DEMAND • Cross demand refers to the quantity demanded for a particular product or service, given the price of a related good. • The related good may be complementary or a substitute… 7

8. • Example: • 1.Tyres and tubes are complementary goods (one cannot go without the other) • 2.Tea and Coffee are substitutees. Take one and you have to leave the other. 8

�ݺ�ߣ

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