Demand and supply are the forces that make market economies work. A demand schedule may be. It shows the quantities of demand for a commodity by a particular consumer (or household) at various.
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Price demand is inversely proportional to the price of a product or service. Abstract — the electricity demand of a nation speaks of its social standard, pace of economic growth, geographical variations and demography of the population at large. Historical data based on cea (various years) and rbi (2018) , and possible outcomes for energy and electricity demand.
These two together determine the price and quantity sold of a commodity or service.
Only when all these three things are present then the consumer presents his demand in the market. As the price of a product or service rises, its demand falls and vice versa. Demand schedule is a tabular representation of the functional relationship between price and quantity demanded for a particular commodity. The detailed study of the electricity consumption invokes a knowledge of its trend and seasonality which can be exploited to extrapolate the demand characteristics.
Graphical representation of demand schedule is known as demand curve.it basically is a curve that shows how quantity demanded of a commodity is related to its price. Explain both the concepts with the help of diagrams. List of figures es 1 :
