DEMAND AND SUPPLY OF ECONOMICS

                                        DEMAND

DEFINITION:

To analze the market using a model of supply and demand .we are first seen that which product demand in public .Demand can be defined that good for whose fulfilment a person has enough purchasing power and prepared to pay for the good .In simple words demand is a needs to public.

THE DEMAND SCHEDULE EXAMPLE FOR PANTS:

Price in Rs                                             Pants in thousand

    800                                                               8

    550                                                             15

    450                                                             25

    300                                                             40

    250                                                             55

    100                                                             70

There is a data given in the table shows,the demand for pants increases as its price decrease.when time  price 800 per pants that's time  8 thousand pants are demand,when time price is decrease to 300,demand for pants increases to 40 thousand and when time price further to Rs 100,demand rises to 70 thousand.this is example of demand schedule.(REFERENCED FROM D.N.DWIVEDI's BOOK)

                                           SUPPLY

DEFINITION:

The total amount of  product available for purchase specified price.Market supply ,like market demand ,is the some of supplies of a commodity made by all individual firms.