He had never been acquainted with the distinction between [the] actual and demanded quantity
The coal supply from CIL and SCCL to power sector, till May 24, is 82.3 MT, which is 2.98 MT less than the demanded quantity
Rajesh Seth, store owner said “custom balloon printing service is available for different occasions like birthday, anniversary, corporate event & baby shower occasion.” He also added “The bulk order will be timely delivered with good quality and demanded quantity
The Price Elasticity of demand (PED or Ed) is used to measure the elasticity of the demanded quantity
of product or service to a change in price (http://www.investopedia.com, 2011).
Note that for prices c [less than or equal to] p [less than or equal to] a, the total demanded quantity
is the sum of the market 1 demanded quantity
plus a negative demanded quantity
in market 2.
In conclusion, we have every reason to question why the economists consider that the "inverse" relation between price and the demanded quantity
from the corresponding product is a general truth, usually stated under the name of Law of Demand and referring to the market demand.
"Yes prices are higher, but they are going down a bit, so that might be good because [consumers are] used to the high prices and they think they have more money in the pocket than before." Economists talk about the price elasticity of certain products, and posit that a 1 percent increase in the price of a product will result in maybe a 2 percent decrease in consumption, or demanded quantity
. Gasoline prices, however, seem to be relatively inelastic, at least in the short term: When prices change there is relatively little change in quantity demanded, according to Perner.
The demanded quantity
depends, according to the demand theory, on price, income and individuals' understanding of risk-among other economic variables.