Do You know Demand ? Definition Of Demand And Demand Law

Demand For Goods

Demand is the quantity of goods or services desired by consumers at various price levels in a certain period of time.

Types Of Demand

1. Effective Demand is the demand for goods or services accompanied by purchasing power and cunducting transactions.
2. Potential Demand is the demand for goods or services accompanied  by purchasing power but cunsomers do not cunduct transactions.
3. Absolute Demand is the demand for goods and service, but someone does not do the buying power.
4. Individual Demand is  the demand for goods or services for living needs
5. Group Demand is  the demand for goods and service to group at the same time

Law Of Demand.

If the price of goods decreases, the more the number of goods available in the market, if the price of goods is expensive, fewer item are available in the market. 

Types Of Buyers
Buyer have purchasing power above the market price, Example : Business owner.  Buyer have purchasing according to market price, and buyer have purchasing power below market price.

Factors Effecting Demand.

1. Price of Goods
2. Price others goods
3. Buyer revenue
4. Buyer wishes