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a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in the demand curve

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What is difference between primary and secondary distribution of overheads with reciprocity?

Primary is the part that originally has all of the supplies, such as the distributor. The secondary would be the store that is selling the products.


Difference between securities exchange vs OTC market?

There are two primary differences between securities exchange and OTC. They are that OTC does not have a physical place and they seldom affect stock prices.


What is commodity trading or exchange?

commodity trading is the trading of primary products on exchange. spot trading and future trading of comodities are done to take advantage of difference between current and future prices.


Difference between primary and secondary demand?

Well, hello there, friend! Primary demand is the overall demand for a product or service in the market, while secondary demand refers to the demand for a specific brand or company within that market. It's like the difference between loving all the beautiful trees in the forest (primary demand) and having a special place in your heart for a particular oak tree (secondary demand). Both are important in their own way, just like how every brushstroke adds to the beauty of a painting.


Define elastic demand?

Elasticity is the percentage change in one variable resulting from a percentage change in another variable. Thus, the price elasticity of demand is the percentage change in quantity demanded of a good resulting from a percent change in its price. Elastic demand means that the percentage change in quantity demanded of the good is greater than the percentage increase in price. This means that the demand for a good is very sensitive relative to price. Therefore, if the price increases by one dollar the quantity demanded for that good will decrease by a lot and if the price decreases by one dollar the quantity demanded for that good will increase by a lot. The determinants of price elasticity of demand are: substitutes of the good, percentage of income the good's price, and the need of the good. Substitutes are other goods that have the same or similar function to the particular good; if there are many substitutes then the price will be elastic in which the primary good becomes too expensive consumers will switch their demand to a close substitute, and if there are not many substitutes the price will be inelastic in which the primary good becomes very expensive consumers will have to buy that good no matter what. If the price of the good is a large percent of the consumer's income the elasticity of demand will be high, since the consumer will not want to spend the majority of their income on one good. If the good is a necessity, for example food, then people will have to buy it no matter the price therefore it will be very inelastic. If the good is a luxury good like a yacht then the demand elasticity will be very elastic.

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