ENG Demand
Supply and Demand The two sides of each market transaction are called supply and demand. Supply: The ability and willingness to sell/produce/ specific quantities of a good at alternative prices in a given time period, ceteris paribus. Demand: The ability and willingness to buy specific quantities of a good at alternative prices in a given time period, ceteris paribus. 6. Individual demand A demand exists only if someone is willing and able to pay for the good – that is, exchange Slovak crowns for a good or service in the marketplace. A demand schedule and curve A demand schedule indicates the quantity of goods that consumer is able and willing to buy at alternative prices /ceteris paribus/. The demand schedule indicates that e. g. I would buy 5 exercise books per semester if the price of exercise books were 35 Sk . If exercise books were less expensive, I would purchase a larger quantity.