Demand
one of the most important building blocks of economic analysis is the concept of demand.
when economists refer to demand, they usually have in mind not just a single quantity
demanded, but what is called a demand curve. a demand curve traces the quantity of a good or
service that is demanded at successively different prices.
the most famous law in economics, and the one that economists are most sure of, is the
law of demand. on this law is built almost the whole edifice of economics. the law of demand
states that when the price of a good rises, the amount demanded falls, and when the price falls,
the amount demanded rises.
it is not just price that affects the quantity demanded. income affects it too. as real income
rises, people buy more of some goods (which economists call normal goods) and less of what are
called inferior goods. urban mass transit and railroad transportation are classic examples of
inferior goods. that is why the usage of both of these modes of travel declined so dramatically as
postwar incomes were rising and more people could afford automobiles.перевод

AnitaGo    1   30.10.2019 17:11    17