Marginal demand: Difference between revisions
Jump to navigation
Jump to search
imported>Citation bot Alter: url. URLs might have been anonymized. | Use this bot. Report bugs. | Suggested by AManWithNoPlan | #UCB_CommandLine |
imported>Chongkian same name |
||
| Line 1: | Line 1: | ||
'''Marginal demand''' in [[economics]] is the change in demand for a product or service in response to a specific change in its price.<ref>{{cite book |url=https://books.google.com/books?id=-renDwAAQBAJ&pg=PA43 |pages=43–44 |title=Advanced Calculus: Fundamentals of Mathematics |first=Carlos |last=Polanco |year=2019 |isbn=9789811415074 |publisher=[[Bentham Science Publishers]]}}</ref> Normally, as prices for goods or services rise, demand falls, and conversely, as prices for goods or services fall, demand rises. A product or service for which price changes cause a relatively big change in demand is said to have ''elastic'' demand. A product or service where price changes cause a relatively small change in demand is said to have ''inelastic'' demand.<ref>{{cite book |url=https://books.google.com/books?id=dDq3BAAAQBAJ&pg=PA241 |pages=241–242 |title=Calculus With Applications |first1=Peter D. |last1=Lax |first2=Maria Shea |last2=Terrell |year=2013 |isbn=9781461479468 |publisher=[[Springer (publisher)|Springer New York]]}}</ref> | '''Marginal demand''' in [[economics]] is the change in demand for a product or service in response to a specific change in its price.<ref>{{cite book |url=https://books.google.com/books?id=-renDwAAQBAJ&pg=PA43 |pages=43–44 |title=Advanced Calculus: Fundamentals of Mathematics |first=Carlos |last=Polanco |year=2019 |isbn=9789811415074 |publisher=[[Bentham Science Publishers]]}}</ref> Normally, as prices for goods or services rise, demand falls, and conversely, as prices for goods or services fall, demand rises. A product or service for which price changes cause a relatively big change in demand is said to have ''elastic'' demand. A product or service where price changes cause a relatively small change in demand is said to have ''inelastic'' demand.<ref>{{cite book |url=https://books.google.com/books?id=dDq3BAAAQBAJ&pg=PA241 |pages=241–242 |title=Calculus With Applications |first1=Peter D. |last1=Lax |first2=Maria Shea |last2=Terrell |year=2013 |isbn=9781461479468 |publisher=[[Springer (publisher)|Springer New York]]}}</ref> | ||
==See also== | ==See also== | ||
| Line 8: | Line 5: | ||
*[[Supply and demand]] | *[[Supply and demand]] | ||
{{ | ==References== | ||
{{reflist}} | |||
[[Category:Demand]] | [[Category:Demand]] | ||
[[Category:Marginal concepts]] | [[Category:Marginal concepts]] | ||
Latest revision as of 02:22, 12 December 2025
Marginal demand in economics is the change in demand for a product or service in response to a specific change in its price.[1] Normally, as prices for goods or services rise, demand falls, and conversely, as prices for goods or services fall, demand rises. A product or service for which price changes cause a relatively big change in demand is said to have elastic demand. A product or service where price changes cause a relatively small change in demand is said to have inelastic demand.[2]
See also
References
<templatestyles src="Reflist/styles.css" />
Script error: No such module "Check for unknown parameters".