How To Define Demand Theory?
Demand theory is an economic principle that deals with the relationship between consumer demand for goods and services and their market prices. Demand theory forms the basis of demand curves, which link consumer desires to the quantity of goods available. As good or service becomes available, demand decreases and so does the cost of balance.
- Demand theory explains how a change in the quantity of a consumer product or service affects its value in the market.
- The theory is that the higher the price of a product, the more equal everything else is. The lower the demand, the lower the demand.
- The higher the demand, the higher the price of a particular offer.
- The demand theory prioritizes demand in the relationship between supply and demand.
Literal Meanings of Demand Theory
Meanings of Demand:
Ask with authority or candle.
A permanent and convincing request by law.
Sentences of Demand
"Where is he?" He asked
A set of requirements for far-reaching reforms
Synonyms of Demand
request, order to, command to, tell to, urge to, call, enjoin to, call on to
Meanings of Theory:
Assumptions or systems of ideas for the purpose of explaining something are basically based on general principles, regardless of what is being explained.
Sentences of Theory
Darwin's theory of evolution
Synonyms of Theory
premise, conjecture, supposition, presumption, guess, feeling, presupposition, hunch, assumption, hypothesis, speculation, thesis, notion, suspicion, surmise, proposition, postulation, postulate