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Hitesh Jhanji, Lovely Professional University Unit-6: Theory of Demand and Elasticity of Demand

Notes
Unit-6: Theory of Demand and Elasticity of Demand

CONTENTS

Objectives
Introduction

6.1 Concept of Demand

6.2 Demand Schedule and Demand Curve
6.3 Determinants of Demand or Demand Function

6.4 How do Different Determinants Work?
6.5 Change in Quantity Demanded and Change in Demand

Or
Movement Along Demand Curve and Shift of the Demand Curve

6.6 Distinction between Extension and Increase in Demand

6.7 Distinction between Contraction and Decrease in Demand
6.8 Elasticity of Demand

6.9 Price Elasticity of Demand
6.10 Two Extreme Situations of Price Elasticity of Demand

6.11 Normal Situations of Price Elasticity of Demand
6.12 Demand Curves Showing E = 1, E > 1 and E < 1

6.13 Measurement of Price Elasticity of Demand

6.14 Some Theorems Related to Elasticity of Demand
6.15 Factors Determining the Price Elasticity of Demand

6.16 Income Elasticity of Demand

6.17 Measurement of Income Elasticity of Demand
6.18 Degrees of Income Elasticity of Demand

6.19 Cross Elasticity of Demand

LOVELY PROFESSIONAL UNIVERSITY 95