Description
This book provides a comprehensive exploration of demand theory in economics, focusing on key concepts like the demand schedule, determinants of demand, and the law of demand. It explains how demand relates to price, income, preferences, and related goods, offering a clear understanding of how these factors interact in determining market behavior. Through practical examples, such as the demand for rice in Bhubaneswar, it illustrates the dynamic nature of demand and its responsiveness to changes in various factors. Ideal for students and professionals alike, this book offers essential insights into the foundational principles of microeconomics.