The demand Schedule is a table that shows the relationship between the price of the good and the

quantity demanded.

Demand schedule
Price demand
1.0 12
0.50 10
2.0 8
1.50 6
2.00 4
2.50 2
3.00 0
Demand Curve The demand Curve is the downward-sloping line relating
Price

Rs 3
2.50
2.00
1.50
1.00
.50 Quality of ICE Cream
0 1 2 3 4 5 6 7 8 9 10 12

Market Demand
Market Demand refers to the sum of all individual demands for a particular good or service
 Change in Quantity Demanded vs Change in Demand
OR
Expansion or Contraction of Demand vs Increase or Decrease in Demand

Change in Quantity Demanded vs Change in Demand

Change in Quantity Demanded
 Movement along the Demand curve
 Caused by a change in the Price of the product
Price of
Cigarettes
RS4.00

12 20 Number of cigarettes

Change in Quantity Demanded vs Change in Demand

Change in demand
 A shift in the demand curve, either to the Left or right
 Caused by a Change in a Determinant other than the Price
Normal Goods Vs Inferior Goods
When the determinant of a change in demand is consumer income, there are two types of goods:
 Normal Goods: Any Good, whose demand increases with an increase in consumer
income is called as a Normal Goods.
 Inferior Goods: Any Goods, whose demand decrease with an increase in consumer
income is called as an Inferior good.
Inferior goods are the cheapest possible option to satisfy a generic need.