"Demand" in Economics is characterized as the material needs and desires of a product from the population. Demand may change over time as the population formulates new needs, as the amount of resources available (supply) rises or falls, as the price of a product changes, as technology changes, etc.--it is not a constant variable, but is dependent on other factors.
Shifts in the demand curves
When a rise in demand occurs, the curve shifts to the right, causing an increase in equilibrium quantity and equilibrium price.
When a fall in demand occurs, the curve shifts to the left, causing a decrease in equilibrium quantity and equilibrium price.
Shift along the curve
When there is a shift along the curve, there in a change in quanity demanded, not demand. A shift along the curve only when there is a price increase or decrease. For example if the price of milk rose, there would be a decrease in the quantity demanded, not demand if you were graphing the milk market.
Changes in Demand
Table of Contents
Rise in Demand
Fall in Demand
Equilibrium
Equilibrium price
Equilibrium Quantity
Shift along the curve
Table of Contents
"Demand" in Economics is characterized as the material needs and desires of a product from the population. Demand may change over time as the population formulates new needs, as the amount of resources available (supply) rises or falls, as the price of a product changes, as technology changes, etc.--it is not a constant variable, but is dependent on other factors.
Shifts in the demand curves
When a rise in demand occurs, the curve shifts to the right, causing an increase in equilibrium quantity and equilibrium price.
When a fall in demand occurs, the curve shifts to the left, causing a decrease in equilibrium quantity and equilibrium price.
Shift along the curve
When there is a shift along the curve, there in a change in quanity demanded, not demand. A shift along the curve only when there is a price increase or decrease. For example if the price of milk rose, there would be a decrease in the quantity demanded, not demand if you were graphing the milk market.Sources
1. http://www.bizearly.com/2010/02/demand-in-economics/2.http://3.bp.blogspot.com/_NXS1mcY2wvU/ShuWiKFBTVI/AAAAAAAAAA8/KOZOmMqOY5w/s400/movement+demand+curve.jpg