Understanding Theory of Demand - Demand Curve

Demand Theory is a theory relating to the relationship between consumer demand for goods and services and their prices. Demand theory forms the basis for the demand curve, which relates consumer desire to the number of goods available. The course consists of all the basic definitions, concepts, schedules and graphical diagrams about demand and demand theory.

The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time. In a typical representation, the price will appear on the left vertical axis, the quantity demanded on the horizontal axis.

In this series we are discussing the following:

• Theory of Demand: Introduction

• Demand Schedule - Definition, Concept, and Types

• Demand Curve

• Law of Demand

• Law of Demand: Assumptions and Exceptions

• Demand Function

• Determinants of Individual Household Income

• Determinants of Market Demand

• Law of Demand: Exceptions

This course is self-based, designed for all levels in economics and in the English language.

This is Sanchit Gupta currently working as a Software Engineer in Bangalore, India. I'm working as a verified educator for the past 3 years on Unacademy (India's Largest Learning Platform) now. There I teach several topics (Competitive Exams, CAT, GMAT, GRE Preparation, Economics, UPSC Preparation, Programming, Personal Development and many more).