Demand
✏️ In one line
Demand is how much of a good buyers are willing and able to buy at different prices, over a period of time.
📖 Story time
- At the college canteen, chai costs ₹20. Arun buys 6 cups a week.
- One day the price goes up to ₹30. Now Arun buys only 4 cups.
- When the price falls back, he buys more again.
- This is the law of demand: when price goes up, people buy less, and when it goes down, they buy more (if nothing else changes).
🎯 Your turn
Arun wants to buy exactly 6 cups of chai a week. Slide the price to where that happens.
Nice! At ₹20 Arun buys 6 cups. See how the dot slides down the curve as the price falls? That's the law of demand.
Not quite. Hint: Lower prices mean more cups. Keep sliding.
What does the law of demand say?
Nice! Correct! Price and quantity demanded move in opposite directions, if other things stay the same.
Not quite. Hint: Remember Arun: chai got costlier, so he bought…?
A demand curve usually slopes downward from left to right.
Nice! Yes. High price means low quantity, and low price means high quantity, so the line slopes down.
Not quite. Hint: Picture the dot in the slider question.
Arun: Arun's pocket money doubles. Chai still costs ₹20, but now he buys 9 cups a week in place of 6.
What happened?
Nice! Spot on. The price didn't change, but more income means Arun's demand rose. The whole demand curve shifts to the right.
Not quite. Hint: The price stayed the same. What else changed?
Which of these does NOT affect a buyer's demand?
Nice! Right. Raw-material cost affects the seller (supply), not the buyer.
Not quite. Hint: Three of these are about the buyer. One is about the seller.