3. It is the time and effort exerted
by man which includes physical
and mental ability of a person
who work in the sectors of
agriculture, industry and service.
4. It is the time and effort exerted
by man which includes physical
and mental ability of a person
who work in the sectors of
agriculture, industry and service.
LABOR
5. Basic Concepts of Demand
It is considered as man-made
products that are used to produce
goods and services which
includes machineries, factories
and transportations.
6. It is considered as man-made
products that are used to produce
goods and services which
includes machineries, factories
and transportations.
CAPITAL
7. Basic Concepts of Demand
It is an individual that
oversees, plans and
takes risk in a business.
8. It is an individual that
oversees, plans and
takes risk in a business.
ENTREPRENEURSHIP
9. Basic Concepts of Demand
It refers to the natural resources
which encompasses all original
and nonrenewable natural
resources.
10. It refers to the natural resources
which encompasses all original
and nonrenewable natural
resources.
LAND
11. Basic Concepts of Demand
It refers to creating
products and services in
order to meet society’s
needs.
12. It refers to creating
products and services in
order to meet society’s
needs.
PRODUCTION
15. Demand- it is defined as
the quantity of goods and
services that consumers are
willing to buy at a given price
and time.
The consumer side of the market is
DEMAND
16. The law of demand describes
the general behavior of
consumers.
Consumers tend to buy more if
the price of the product is low
and less if the price is high.
Law of Demand
17. Individual Demand
-the demand for a product by a
particular consumer or buyer.
Illustrating the Law of demand
Market Demand
-the demand for the same product
by all the consumers
19. • Individual Demand Schedule
Illustrating the Law of demand
refers to a tabular representation
that shows the quantity demand a
consumer is willing to buy given
alternative prices.
27. UTILITY THEORY
• Utility theory suggests that the
price of a product must be
commensurate to its usefulness.
The more useful the product is, the
higher price should be.
28. UTILITY THEORY
• Utility theory uses util as the
hypothetical unit for
measuring consumer
satisfaction.
33. 1. Change in Quantity Demanded
SHIFTS IN DEMAND
Occurs when the demand for a
commodity changes because
the commodity’s price
changes. This creates a shift
along the demand curve.
34. 2. Change in Demand
SHIFTS IN DEMAND
Happens when the demand for
a product at a particular time
increases or decreases even
though the price is constant.
This creates a shift of the
demand curve.
35. 1. Income
FACTORS AFFECTING DEMAND
The increase in income will
most likely cause the demand
curve to shift to the right.
36. 1. Income
FACTORS AFFECTING DEMAND
The decrease in income will
most likely to reduce its
volume of consumption, this
will cause the demand curve
to shift to the left.
37. 2. Change in Demand
SHIFTS IN DEMAND
Happens when the demand for
a product at a particular time
increases or decreases even
though the price is constant.
This creates a shift of the
demand curve.
38. 2. Change in Demand
SHIFTS IN DEMAND
Happens when the demand for
a product at a particular time
increases or decreases even
though the price is constant.
This creates a shift of the
demand curve.
39. 2. Change in Demand
SHIFTS IN DEMAND
Happens when the demand for
a product at a particular time
increases or decreases even
though the price is constant.
This creates a shift of the
demand curve.
40. 2. Change in Demand
SHIFTS IN DEMAND
Happens when the demand for
a product at a particular time
increases or decreases even
though the price is constant.
This creates a shift of the
demand curve.
42. 1. Movement in the demand curve
2 movements in the demand curve
when the commodity
experience change in both the
quantity demanded and price,
causing the curve to move in
specific direction.
43.
44. 2. Shift in the demand curve
2 movements in the demand curve
When the price of the
commodity remains constant
but there is a change in
quantity demanded due to
some other factors causing the
curve to shift in particular side.
45.
46. “ILLUSTRATE IT OUT”
Assuming that 300 is the quantity of the
product (Lanzones) that a consumer is willing
to buy.
Find the:
-Demand function, Demand schedule,
Demand curve, Market demand at your own
price.
Given the formula of Qd=300-5P
49. QUIZ (10 pts)
Direction: Read the statement in each number and find the components being define inside
the box. Write your answer in a sheet of paper. (2 minutes)
_________1. It refers to the total quantity of a product or service demanded by all the
consumers in the market. This can be seen in the market.
_________2. Is a graphical representation of the inverse relationship between price and
quantity demand. We can use the demand schedule to plot the demand curve.
_________3. Is defined as the quantity of a product or service that a consumer is willing to
buy given alternative prices at a specific period in time.
_________4. States that at ceteris paribus, while price is decreasing the quantity demand is
increasing and while the price is increasing the quantity demand is decreasing.
_________5. Is a mathematical equation that has two variables, the dependent and
independent?
A. Demand B. Demand Schedule
C. Market Demand D. Law of Demand
E. Demand Function F. Demand Curve
50. ASSIGNMENT
Direction:
Gather news articles on the prices of basic
commodities including rice, sugar and chicken.
Make a class presentation on what is
happening to their prices using demand and
supply analysis.
