Scribd
Upload
18 views4 pages

Presidency University - Cover

Uploaded by

ponsontai
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
18 views4 pages

Presidency University - Cover

Uploaded by

ponsontai
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

ASSIGNMENT

On Summary of all topics from the final syllabus


Course Title - Microeconomics
Course Code - ECN125

Submitted By: Mushrafi MD Eram


ID: 242 367 025
Batch: 242
Department: BBA

Submitted To: Saima Ahmed


Lecturer, Dept. of Business Administration
Demand
Demand is a principle of economics that captures the consumer's desire to buy the product
or service. The demand is calculated as the price the consumers are willing to pay for the
product or service. Desire, willingness and ability to buy a service or good are the three
requirements for there to be demand.

There are various factors that drive demand, including cost, income, preference and more.
These
factors also affect consumers’ purchase decisions. Here are the fundamental determinants
of
demand:
1. Cost of a Good or Service
2. Income of Buyers
3. Cost of Related Goods or Services. Cost of Related Goods or Services
4. Tastes or Preferences
5. Expectations

The law of demand states that other factors being constant, price and quantity demand of
any good
and service are inversely related to each other. When the price of a product increases, the
demand
for the same product will fall.

Demand Chart

Price of the Product (Taka) Demand of the Product (Unit)


2 8
4 8
6 6
8 4
10 2

The law of demand applies to most of our everyday products. But, it’s not for all products.
There are specific cases where it doesn’t apply. Thus, an increase in price does not always
lead to
a decrease in the quantity demanded. Vice versa, a decrease in price does not always
increase the
quantity demanded.

Market
In microeconomics, a market is a place where buyers and sellers exchange goods and
services, and where the value of those goods and services is established

Definition

A market is a place where buyers and sellers interact to exchange goods and
services. Markets can be physical, like a retail store, or virtual, like an online retailer

Market structure

There are different types of market structures, including monopolies, oligopolies, and
monopolistic competition.

Market classification

Markets can be classified in many ways, including by geographic location, product market,
factor market, time, and regulation.

Market economy

Most countries have primarily market economies, but government policies can influence
them.
Market Supply and Demand
In microeconomics, supply and demand is an economic model that describes how the price
and quantity of goods and services in a market are determined. Supply and demand are
both important economic forces that influence each other and impact the economy:

You might also like