Refer IGNOU Block 4, Page -44
kinked demand curve is the situation where by the labours become satisfied with the employment benefits,and some of them leave the job.
oligopoly
Paw m. Swiji
Marginal utility is the key concept underline demand .The height of a demand curve reflects marginal utility.The marginal utility curve resembles the demand curve. So, it is through the marginal utility we get the demand curve.
To predict how people will change their buying habits when prices change. A market demand curve allows an economist to predict the total sales of an item at several different prices.
Paradoxical demand curve is a theory that the slope of a product will change a different times. This is called Griffin's Paradox.
Income Consumption curve (icc) is a curve which determine the consumption of a consumer base on in his/her income When Income is High, Spending Capacity increases, higher the spending capacity - more the demand. Thus converse to the original demand theory which says, PRICE determines Demand, ICC theory says, INCOME of a PERSON determines the Demand for a Product
Price Rigidity is a condition where one follows a decrease in price but not an increase in price. This is due to the ability of other firms to match prices with it and it often leads to a kinked demand curve.
It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.
The data on a demand schedule can be plotted on a demand curve. Often, a demand schedule will be created before the creation of a demand curve, so as to allow for greater accuracy when plotting the demand curve.
An increase in demand is represented by a shift of the demand curve to the right; not a movement along the demand curve. An increase in the quantity demanded would be a movement down the demand curve.
aggregate demand curve is the total sum of all the individual demand curves while individual demand curve is the demand made by the single individual.