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Form 3 Business Studies Notes for Demand Topic

Institution: Secondary

Course: Business Studies

Content Category: Form 3 Notes

Posted By: raphael

Document Type: PDF

Number of Pages: 10

Price: KES 30
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Summary

Access Form 3 Business Studies notes for topic - demand. Good resource for students and teachers seeking comprehensive study materials.

By the end of the topic the learner should be able to:

a) Explain the meaning of demand;
b) Explain the factors which influence demand for a product;
c) Distinguish between derived demand and joint demand;
d) Derive a demand curve from a demand schedule;
e) Distinguish between movement along a demand curve and shift in the demand curve;
f) Explain the meaning of supply;
g) Explain the factors which influence supply of a product;
h) Derive a supply curve from a supply schedule;
i) Distinguish between movement along a supply curve and shift in supply curve;
j) Determine equilibrium price and quantity;
k) Explain the effects of excess demand and excess supply in the market;
l) Explain the effect of a shift in demand curve on equilibrium price and equilibrium quantity;
m) Explain the effect of a shift in supply curve on equilibrium price and equilibrium quantity; n) Explain other methods of determining price of a product.

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Form 3 Business Studies Notes for Demand Topic

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