One is the price of the high-frequency welding machine […]
One is the price of the high-frequency welding machine product, and the other is the quantity of the product that the consumer is willing and able to buy corresponding to the price of the product. If the price of a commodity is taken as an independent variable and the demand for that commodity is used as a dependent variable, a functional relationship can be used to express the relationship between the demand for a certain commodity and its price. This function is the demand function, or demand for short. Denoted as Q, there is Q=f (P demand function can also be expressed by demand table and demand curve 3. Demand table seeking table is a way to indicate that a certain commodity is willing and able to buy at each different price level The table of the relationship between the quantity of the commodity. Table 2-1 is the demand table of a certain commodity. Table 2-1 clearly shows the functional relationship between the price of the commodity and the quantity demanded. For example, when the price of the commodity is 2 yuan When the demand for goods is 1 unit: when the price drops to 1.2 yuan, the demand for goods rises to 2 units; etc. 4. Demand curve The demand curve is expressed as a geometric figure in the demand table.
As mentioned earlier, the demand curve includes the personal demand curve and the market demand curve. The demand curve has two characteristics. First, the demand curve generally slopes to the lower right. That is, if the demand for a commodity increases with income, then the demand for this commodity 25 must change in the opposite direction to the price. This is the reason why the adjusted demand rule 2 or demand rule, also known as the "demand downward sloping law" to 5, is the reason why the demand curve slopes to the lower right. It has been explained in the derivation of the personal demand curve and will not be repeated here. Second, each point on the demand curve represents a balanced buying behavior that can bring consumer D the most utility. Therefore, unless other conditions Q change, at any price level, the corresponding demand on the demand curve is the continuous and stable consumption behavior of consumers of high-frequency welding machines.
From this, we can deduce the demand curve theory in Figure 2-1: In a period when other conditions remain unchanged, if the price remains unchanged, the demand at a given price level will continue forever. 5. Factors affecting demand For the convenience of analysis, the previous We have always assumed that the only factor that affects demand is the price of the commodity. In fact, in addition to the price of the commodity itself, there are some non-price factors that determine and influence changes in demand: First, consumer preferences.
If the consumer’s preference for a certain product increases, at the same price, the number of consumers buying the product will increase: on the contrary, the number of purchases will decrease. Second, the consumer’s income level will remain unchanged under other conditions. For most products, when consumers' income increases, they will increase their purchases; conversely, consumers of high-frequency welding machines will reduce their purchases. Third, the prices of other commodities. The demand for a commodity will not only be affected by its own price, but also by the prices of other commodities. The latter impact can be divided into two categories: one is substitutes and the other is complementary. When an increase in the price of one commodity stimulates the demand for another commodity, the two commodities are said to be substitutes. For example, an increase in the price of meat will stimulate the demand for fish, and fish and meat are substitutes for each other. If an increase in the price of one commodity reduces the demand for another commodity, the two commodities are said to be complementary products. Complementary products are commodities that are consumed or used together.