The quantity demanded of a good

Introduction:

If you demand something so you want it, afford it and do a definite program to buy it. The measure demanded of a good is the sum that consumers want to purchase during a given clip period at a peculiar monetary value. The measure demanded is non mandatory equal to the sum of good bought.

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The measure demanded is measured as sum per unit of time.Without clip factor, one can non state that measure demanded is high or low.

Supply is more that merely holding resources and engineering to bring forth something. Resources and engineering are the restraints that undermine what is possible.

The measure supplied of a good is sum that produces program to sell during a given clip period at a peculiar monetary value.

( Parkin, 2003, pp 59-64 )

Law Of Demand:

Law of demand says that others things ‘ staying the same, the higher the monetary value of a good, the smaller is the measure demanded.

Graph

There are two chief grounds that high monetary value cut down the measure demanded

1. Substitution consequence

2. Income consequence.

Law of Supply:

Law of Supply provinces that other things staying the same, the higher monetary value of goods, the higher is the measure supplied.

( Parkin, 2003, pp 59 – 64 )

Graph

Demand Of The Following Items:

1 ) Convenience Foods:

Convenience nutrient is commercially prepared nutrient designed for easiness of ingestion. Merchandises designated as convenience nutrients are frequently preprepared nutrient materials that can be sold as hot, ready-to-eat dishes ; as room temperature, shelf-stable merchandises ; or as refrigerated or frozen merchandises that require minimum readying, typically merely warming.

( www.answers.com )

Gross saless Figures

Fishery industry has gained an addition of 15 % between 2001-2005. The entire market value is set to lift a farther 9 % in 2006 to interrupt the ?2 billion. Mintel expects a farther 35 % growing by 2011 to make ?2.76 billion.The totaled of sea nutrient points were ? 2.2 billion in 2001, valued at $ 3 billion. The U.S. imported four billion lbs of seafood valued at $ 10.1 billion. Harmonizing to figures compiled by the National Oceanic and Atmospheric Administration, users spent some $ 55.1 billion for sea nutrient merchandises in 2002. Food service constitutions accounted for $ 38.4 billion ; retail gross revenues for single use were $ 16.4 billion ; and $ 283.1 million was spent for the fabrication of fish merchandises In the twelvemonth 2004 totaled 68.7 million dollars during 2004, gross revenues of fish totaled 63.9 million dollars for 2004. The fish and seafood market has achieved growing of 15 % between “2001-2005” . The entire market value is set to lift a farther 9 % in 2006 to interrupt the ?2 billion barrier ( ?2.04 billion ) . Mintel forecasts a farther 35 % growing by 2011 to make ?2.76 billion.

Factor ( s )

Demand of convenience nutrient is increasing aggressively. It has dominated the UK nutrient industry due to many factors. Initially raised incomes have led consumers to pay more for convenience. Furthermore high rate of female employment leads to a limited clip available at place for nutrient readying. In 2000 there has been a 71 per centum addition in double income households in the UK. Progresss in nutrient readying engineering e.g. micro-cook ovens etc, besides underlie the altering market tendencies towards convenient eating wonts. In 2005 one fifths of the new merchandises launched were microwaveable. Fourthly, due to globalization the traditional British population is developing a stronger gustatory sensation for different cultural nutrients ( e.g. Chinese, Asiatic, Thai nutrients ) , and these international culinary arts account for every bit much as 50 per centum of frozen ready made repasts. The growing of the convenience sector by 4 % in 2005, which is now value ?24.9 billion per annum. It has been expected that this sector will be deserving every bit much as ?30 billion by 2008. In the convenience division the providers and the retail merchants are working together by intensifying new schemes in order to carry through the demands of the consumer.

( Mintel, 2006, Fish and Seafood )

Rise In The Numbers Of Female Labors:

The per centum of females in employment has increased decidedly in the last few old ages. Females in employment have improved the demand for convenience nutrients. A figure of adult male hours are now being spent at work by adult females. Convenience nutrients, readily available for ingestion. In the UK consumers appear to hold less clip to fix and cook their nutrient, besides alteration in society, such as the increasing figure of families in which both spouses are in full-time employment are in bend, impacting clip people are able or willing to give to cooking. It has besides been noticed that the figure of single or people populating entirely has increased which farther more gives convenience nutrient an advantage, The National Statistics at the point the study was published, ( June2008 ) show that in 2005, the figure of people populating entirely in Great Britain had choosing for bites and convenience repasts. More adult females are now career oriented ; the tabular array below shows the growing rate of adult females in employment.

Briton Rate Of Employment Statistics

From 1971 – 2006

1971

1981

1991

2001

2006

Work force

91.7

81.8

79.5

79.2

78.9

Woman

56.3

58.9

66.1

69.1

70.1

ALL

74.7

70.9

73.0

74.5

74.6

[ Men aged 16 to 64, adult females aged 16 to 59 ]

( www.answers.com )

2 ) Products Purchased On The Internet:

The usage of cyberspace is unusually increased over the past old ages. Life is more attractive and more demanding. The greatest potency of cyberspace is being realized by passing up communicating between clients and their providers, bettering service degree and falling logistic costs.

Online buying is rather suited for both organisations and clients, you can purchase when of all time and where of all time you want, clients do n’t truly hold to remain for office or shop times, or to go to other states. It ‘s a 24/7 service, organisations provides the on-line client service, which is really much low cost to acquire in touch with any organisation refering your complain or alteration or goods or services. Harmonizing to a study done by IMRG in 2002, ?1.6 billion had been spent on the online shopping from November to December 2002 which is merely a one month which is double the sum of online shopping last twelvemonth. The production rate is about 15 times greater than so that of general retail gross revenues. Harmonizing to the survey the 10.10 % addition over the old month of November in 2002 had shown that consumers demand for cyberspace shopping was wide based and germinating

Cost Of Alternative Ways Of Buying:

This is a really good factor which people make a benefit of, many people now go on the cyberspace and visit every bit many as possible stores to compare and contrast monetary values before they make their buying, they see the cyberspace shopping as a agency, where they can hold a good thought of what the monetary values are all over and so they go for the best Cardinal note believes the mentality for cyberspace shopping remains really healthy and expects the sector to turn forcefully over old ages to come. ( Philippe Drew ere, market study research 11th edition December 2005 )

( www.msnbc.msn.com )

3 ) Film And Cameras

Harmonizing to Antonio M. Perez, Chairman and Chief Executive Officer, Eastman Kodak Company

“On a consecutive footing, the positive tendencies are clear. Our gross revenues are stabilising and some concerns are demoing existent marks of growing in the 4th one-fourth. That, combined with operational betterments in several of our cardinal merchandise lines, increases our optimism for important betterment in the 4th one-fourth, our largest one-fourth of the years.”

Gross saless Figures:

But alternatively of the claims of higher direction of Kodak in the 3rd One-fourth of 2009, Kodak ‘s ( movie and camera devising company ) gross is declined by 26 % , losingss $ 81 1000000s. Gross saless worldwide totaled $ 1.781 billion, a lessening of 26 % from $ 2.405 billion in the 3rd one-fourth of 2008, including 2 % of unfavourable foreign exchange impact. Gross from digital concerns totaled $ 1.209 billion, a 26 % diminution from $ 1.641 billion in the prior-year one-fourth, chiefly as a consequence of the planetary recession and continued limitations in the recognition markets that are stifling commercial printing purchases. Gross from the company ‘s traditional concern decreased 25 % to $ 572 million, in line with the industry diminution. The company ‘s third-quarter loss from go oning operations, before involvement disbursal, other income ( charges ) , net, and income revenue enhancements was $ 81 million, compared with net incomes on the same footing of $ 147 million in the year-ago one-fourth.

( hypertext transfer protocol: //members.whattheythink.com,30 October 2009 )

Factor Affecting:

Substitution

Promotion in engineering has affected the demand of movie camera. This is as a consequence of the invention of digital camera from the old movie camera which is the replacement for this merchandise. Companies that were bring forthing so many movie cameras have now shifted to production of digital camera. Nikon, the camera shaper which produces movie camera has revealed that it has ended the production of 35mm movie and it is concentrating its attempt on the fabrication of latest digital cameras with better consequences.

( www.letsgodigital.org )

4 ) Video ( VHS ) Rented From The Retail Mercantile establishments:

The demand of rented pictures from retail mercantile establishments is bit by bit worsening. Screen Digest believes that feasible systems for presenting content digitally to the mass market remain a long manner off. No uncertainty that picture rental was a weekend must for 1000000s of households in the past. But now this tendency is altering due to online CD DVD rental services, as it is less clip consuming and easy accessible. The entire figure of pictures rented from these stores fell from 186 million in 2001 to 153 million in 2004 in UK. It has been estimated that at this rate these stores could go a thing of the yesteryear in the following 10 to 15 old ages. European consumers spent ˆ9.25bn on purchasing DVDs in 2004 compared to ˆ9.23bn in 2005.

The demand of rented pictures falling and will continuously fall in future. There are assorted factors impacting the demand of rented pictures. The chief facet of diminution in demand is the handiness of free pirated and latest pictures and films on the cyberspace. These factors are responsible for the decreasing demand of rented pictures from the mercantile establishments and will go on diminishing in the hereafter.

Preferences:

These yearss batch of people prefer either buying the movies out justly or subscribing and they get watching films over the cyberspace, apart from that, youtube and a host of other sites have given people the chance to watch degrees of films over the internet free of charge, they even give chances to download films, picture rental popularity has fallen greatly. In UK, this tendency is being change by online lease services. The grounds behind this is any clip these on-line services can be accessed and they are inexpensive every bit good, like most of the on-line ranks cost far more less money for limitless monthly ranks.

( www.ukfilmcouncil.org.uk )

5 ) Pay Per View Television Scheduling:

Pay-per position is an easy and suited manner of watching any plan, when of all time or where of all time you want to watch either in your house or in hotel room. Pay-per-view ( frequently abbreviated PPV ) is the composing in which telecasting viewing audiences can buy events to be seen on Television and wage for the private telecast of that event to their places. The event is shown at the same clip to everyone telling it, as opposed to video on demand systems, which allow viewing audiences to see the event at any clip. The pay-per-view industry is by and large regarded as a separate industry from telecasting, even though they are basically connected.

In UK, consumers value their free clip and want to do the most of the clip even if it traveling to be them money. This implies that, the more money in their manus, the more they are willing to pay for the best amusement and therefore subscribe to more Television amusements picks B sky B had about 6.72 million endorsers to its services in the 3rd one-fourth of 2003 and this is expected to increase to 6.9 million at the terminal of that twelvemonth.

In Tabular Form:

Year ended

Employee turnover ( ?m )

Profit/ ( loss ) before revenue enhancement ( ?m )

Net profit/ ( loss ) ( ?m )

30 June 2008

4,952

60

( 127 )

30 June 2007

4,551

815

499

30 June 2006

4,148

798

551

30 June 2005

4,048

631

425

30 June 2004

3,656

480

322

30 June 2003

3,186

128

190

30 June 2002

2,776

( 1,276 )

( 1,383 )

30 June 2001

2,306

( 515 )

( 539 )

30 June 2000

1,847

( 263 )

( 272 )

30 June 1999

1,545

( 389 )

( 285 )

30 June 1998

1,434

271

249

30 June 1997

1,270

314

288

30 June 1996

1,008

257

30 June 1995

778

155

30 June 1994

550

93

( hypertext transfer protocol: //en.wikipedia.org )

Factor Affecting

Income:

Money earned by the mass population is the cardinal factor in my sentiment for Pay Per View PPV Television Program. It is obvious that if people got higher income they can pass their leisure clip by paying for Pay-Per-View Televsion plans like Sky, Virgin and others in UK.

( www.digitalspy.co.uk )

Supply of the Following Merchandises:

6 ) Crude Oil

The fiscal forces of supply and demand agree on the monetary value of fuel. If demand grows or if a break in supply occurs, there will be lifting force per unit area on monetary values. By the same item, if demand falls or there is an glut of merchandise in the market, there will be downward force per unit area on monetary values. As per Indian crude oil and natural gas statistics and the universe mineral production, militias and production of rough oil is fluctuating.

Rise in oil monetary values are a consequence of geopolitical factors and polishing jobs instead than markets basicss. Supply of oil is plenty in current times and there is no demand to increase oil production.The supply of petroleum oil will steadily decelerate down in drawn-out tally since the supply is limited. In short tally supply is sufficient and there is no demand to increase production. Another chief facet of rise in demand is the non handiness of inexpensive option.

Preference

The chief factor is penchant, which would do the ingestion to lift. Technological advancement requires the usage of the merchandises of petroleum oil and production has been running at close capacity in recent old ages to run into lifting ingestion, seting upward force per unit area on oil monetary values. The addition in monetary values finally encourages the oil bring forthing states to provide more.

7 ) Hotel Rooms

The hotel industry is a major division of the touristry industry, which, in bend, is one of the most quickly increasing Fieldss in the service industry ( Go and Pine, 1995 ) .

The supply and demand of hotel suites in UK and London are studied. London is the most visited metropolis in the universe by international tourers, with 1.75 % of the World ‘s international reachings sing London. The enlargement of major actions in the metropolis, and the successful command for the 2012 Games bodes good for London ‘s continued popularity amongst the universe ‘s travellers. On an one-year footing, this equates to 2,000 net excess hotel suites per annum over the period to 2007-2026. In the first decennary to 2016, 2,300 net excess hotel suites per annum will be required.

But as the market matures, growing is expect to decelerate, with merely 1,700 net excess suites required over the 2017-2026 period. Econometric analysis that, in London by international visitants is likely to turn by 72 % over the following two decennaries, increasing from around 90 million in 2004 to 155 million by 2026. The figure of hotel suites was available in 2004 is 98421 and in 2005 is 100122 and in 2006, the handiness of hotel suites was 101232. In the twelvemonth 2007 is 103875 and in 2008, the handiness is 105876. The supply of hotel suites is less and is increasing easy.

( www.london.gov.uk )

8 ) Fast Food Outlets In Emerging Markets

Emerging market economic system can be defined as an economic system with low to middle per capital income. They represent about 20 % of the universe ‘s economic systems.

Factors:

Harmonizing to the affects of planetary market the tendency of international franchising is increasing drastically.

McDonald ‘s is the taking planetary foodservice retail merchant with more than 31,000 local eating houses in more than 100 states. More than 75 % of McDonald ‘s eating houses worldwide are owned and operated by franchisees and affiliates.

In the 2004, the Numberss of eating house were 30,496 and the planetary sale of McDonald ‘s was $ 4.2 billion. The undermentioned twelvemonth supply increased with the increased in demand. In the twelvemonth 2005, the figure of eating house was 30,766 and the planetary sale was $ 4.3 billion and in 2006, eating house was 31,046 and sale was $ 4.3 billion. The figure of mercantile establishments was continued increased in 2007, was 31,377 and the planetary sale was $ 4.9 billion.

The supply and demand are expected to increase in the undermentioned old ages due to assorted factors. The usage of fresh veggies, good balanced, Gallic french friess, serve good healthy repasts increase the figure of clients which they can bask mundane fresh repasts and the addition in the figure of shops on a regular basis besides pull the clients. The supply will maintain encouragement in the approaching old ages with the rise in demand.

( www.mcdonalds.com )

9 ) Recognition Card games Issued By Financial Institutions

Factors:

The market of recognition cards is turning in today ‘s universe. The growing of recognition is 40 % in India from last four old ages. A survey has explained the methods how careless and non professional ways and cheques are being used in publishing recognition cards. . Further study shows that 9 out of 10 recognition cards borrow were issued cards without any cheques like recognition history or fiscal stableness of the borrower. Almost there is no bound holding multiple cards, in add-on to it fiscal establishments are giving balance transportation installations, that is being used as a incentive. In 2005, the entire figure of recognition cards issued was 13.1 million, and was issued 17.5 million recognition cards in the fiscal twelvemonth 2006. The entire figure of recognition cards issued in the twelvemonth 2007 was 22.6 million. The bank is besides India ‘s most aggressive at place. It has issued more than 9 million recognition cards, doing it the largest credit-card supplier in the state.

There is a changeless growing of demand and supply of recognition card in India. In today ‘s universe there is a broad credence of recognition cards by merchandisers and with more Bankss, foreign and public sector entity coming in this market is more hostile than of all time. Main cause in rise of demand and supply are the new strategies and appealing offers to the cardholders and assorted spouse merchandisers.

Presents, more clients desire cards instead than transport hard currency, moreover it ‘s easy to transport and safer to go which make it popular and the credence degree is high. These factors will ensue in rise in supply of recognition cards in the hereafter.

( www.thehindubusinessline.com )

10 ) Laptop Computers

The other name for laptop computing machines is notebook Personal computers. Very high demand and supply of notebook Personal computers is traveling on all over the universe.

Factors Associating:

The affordability of laptops has made it popular twenty-four hours by twenty-four hours. One of the major affecting factors for the current high demand and supply of Laptop computing machines is the portability and high public presentation. It ‘s really easy to transport and light in weight. People these yearss are truly looking for the convenience in every sector of life. Five million of the laptops will be delivered to developing states this summer, in one of the most ambitious educational exercisings of all time undertaken. Laptops sale recorded a high growing of 97 % with a rise of 41 % in the concern sectors and besides increased in family. In the twelvemonth 2004/05, the entire figure of laptops sold was 177105. In the twelvemonth 2005/06, the entire figure of laptops sold was 431834. In the fiscal twelvemonth 2006/07, it is expected to make a high figure of gross revenues of 850860. The mean cost of laptop is Rs. 31000 to Rs. 40000 as compared to old twelvemonth Rs. 58000 to Rs. 80000. Government policies besides help in addition of sale, for illustration now let responsibility free import as baggage. Laptops have besides combination of following coevals engineerings like Wi-Fi, Bluetooth, and infrared with Mobile calculating which brings added public-service corporation to laptops and attracts the young person every bit good. The demand of laptops will increase in future due to the factors discussed above and supply will besides increase to run into demand.

Some of the others associating factor of Laptop computing machines with regard to provide are:

  • High Performance
  • Convenience
  • Light weight

( www.physorg.com )

Mentions

Book:

Parkin ( 2003 ) MICROECONOMICS 6TH EDITION pp. 59-64

Web sites:

hypertext transfer protocol: //www.answers.com/topic/convenience-food Accessed 09/11/2009

hypertext transfer protocol: //www.letsgodigital.org/en/news/articles/story_6260.html Accessed13/11/2009

hypertext transfer protocol: //www.thehindubusinessline.com Accessed on 13-11-2009.

hypertext transfer protocol: //members.whattheythink.com/news/index.cfm? id=40740 Accessed on 13-11-2009.

hypertext transfer protocol: //www.scribd.com/doc/5552213/factors-that-will-be-affecting-the-Demand-and-Supply-of-a-given-number-of-products Accessed 16 /11/ 2009

hypertext transfer protocol: //news.bbc.co.uk/1/hi/magazine/3409155.stm Accessed 26 /11/ 2009.

.http: //www.coursework.info/AS_and_A_Level/Business_Studies/Marketing__Research/Factors_affecting_Supply_and_Demand_L46386.html Accessed 4/12/2009.

hypertext transfer protocol: //en.wikipedia.org/wiki/British_Sky_Broadcasting Accessed 8/12/2009

hypertext transfer protocol: //www.digitalspy.co.uk/forums/showthread.php? p=11681325 Accessed 8/12/2009.

hypertext transfer protocol: //www.entrepreneur.com/tradejournals/article/189614238.html

Accessed 9-12-2009.

hypertext transfer protocol: //www.regent.edu/acad/global/publications/jpc/vol2iss1/upadhyay/JPCVol2Iss1_Upadhyay.pdf Accessed 11-12-2009.

hypertext transfer protocol: //www.london.gov.uk/mayor/planning/docs/hotel-demand-study.pdf

Accessed 11/12/2009.

http//www.tutor2u.net/economics/content/topics/demndsupply/market Accessed 13/12/2009.

http/www.theregister.co.uk. ( Nikontoend movie camera production.2006 ) ..Accessed on 13/12/2009.

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1. Mankiw, NG ( 2006 ) Principles of Economics ( 4rt edn ) South Western Educational Publishing.

2. Parkin, M ( 2008 ) Economics ( 8th edn ) Addison-Wesley Publishing Company.

3. Pimentel B. , ( 2008 ) Memory bit shapers still aching from supply oversupply: technology/Business cited 30 September, 2008 from:

4. Retrieved from “ hypertext transfer protocol: //en.citizendium.org/wiki/Economics/Bibliography ”

5. Mark Stanberry ( 2003 ) BCC research: Reports and Reappraisals

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7. Joan Robinson, Economic Philosophy, Penguin Books 1962.

8. Reciprocal Modular Brain in Economics and Politicss

BY A. Cory Gerald

9. McConnell, C.R. and Brue, S.L ( 2002 ) , Economics Principles, Problems and Policies ( 15th ed. ) , McGraw Hill USA

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