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Theory of Demand

15 Lessons 28 mins

Discover the principles behind the behavior of consumers and the factors that affect demand, including determinants of demand, types of demand, elasticity of demand, and its measurement, as well as how to apply price elasticity of demand in real-life situations.

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Tutorial Lessons

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1

The Meaning and Law of Demand

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2

Determinants of Demand

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3

Demand Schedule

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Demand Curve

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Change in Quantity Demanded and Change in Demand

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6

Types of Demand

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Elasticity of Demand

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8

Measurement of Price Elasticity of Demand

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9

Determinants of Price Elasticity of Demand

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10

Income Elasticity of Demand

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11

Interpretation of the Income Elasticity Coefficient (Ey)

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12

Measurement of Income Elasticity of Demand

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13

Cross-Price Elasticity of Demand

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14

Measurement of Cross-Price Elasticity of Demand

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15

Application of Price Elasticity of Demand

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