BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Demand function shows the functional relationship between Quantity demanded for a commodity and its various Determinants. The quantity demanded is inversely related to price of the products, i.e., if prices fall, the demand will increase.

Detailed explanation-2: -Demand function is what describes a relationship between one variable and its determinants. It describes how much quantity of goods is purchased at alternative prices of good and related goods, alternative income levels, and alternative values of other variables affecting demand.

Detailed explanation-3: -Demand Equation or Function The quantity demanded (qD) is a function of five factors-price, buyer income, the price of related goods, consumer tastes, and any consumer expectations of future supply and price. As these factors change, so too does the quantity demanded.

Detailed explanation-4: -The Law of Demand and the Demand Curve It simply states that as the price of a commodity increases, demand decreases, provided other factors remain constant. Also, as the price decreases, demand increases. This relationship can be illustrated graphically using a tool known as the demand curve.

Detailed explanation-5: -The demand schedule shows the relationship between the quantity demanded of a commodity and price of the commodity.