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CPT Chapter Law of Demand and Elasticity of Demand

CA CPT Exam  

With Bharat Galani.Duration:3hrs 50min

Law of Demand and Elasticity of DemandDuration (min:sec)
What is demand? 
Introduction01:07
What is demand05:49
Definition of demand08:03
Summary what is demand02:27
Intro Factor Influencing demand07:16
Factor affecting demands13:02
Summary of Factor affecting demand02:05
Types of demand08:34
Demand Curve 
Demand Curve09:49
Why demand curve slopes downward10:57
Exception to Law of Demand10:42
Summary01:17
Change in demand vs. Change in Qty demanded 
Change in Qty demanded & Change in demand02:04
Expansion & Contraction of demand03:20
Increase & Decrease of demand05:37
Explanation Expansion & Contraction ,Increase & Decrease in demand06:32
Change in Qty demanded vs. Change in demand01:18
Elasticity of demand 
What is Elasticity03:00
Types of Elasticity01:28
Price Elasticity 
What to Learn in Price Elasticity01:16
How is Elasticity calculated08:17
Point Elasticity08:49
Arc Elasticity04:30
Total Outlay Method05:47
Types of Price Elasticity12:34
Interpretation of Numeric Value10:36
Numerical Problem05:09
Summary Price Elasticity03:14
Factor affecting Price Elasticity18:58
Income Elasticity 
Income Elasticity09:23
Interpretation of Numeric Value03:58
Numerical Problem02:19
Cross Elasticity10:46
Interpretation of Numeric Value03:43
Summary for Elasticity01:57
Quiz06:40
Conclusion07:27
Total3:49:50

Notes

Index

What is demand?
What influences demand?
Types of demand
Law of demand
Change in Qty demanded vs Change in demand
Elasticity of demand
~Price Elasticity
~Income Elasticity
~Cross Elasticity

What is Demand?

Desire
Means
Willingness -Means to purchase
Expressed :
given price
given period of time

What Influence demand ?

price of Product
Price of Related Products
Income of Household
Taste & Preference of Consumer
Other factors

Law of Demand
Inverse relationship between price and quantity demanded.
other things being equal, if the price of a commodity falls, the quantity demanded of it will rise and if the price of a commodity rises, its quantity demanded will decline.

Why Demand Curve Slopes Downward

Cost-Utility matching
Income Effect
Substitution Effect
Arrival of new consumers
Multiple uses

Exception to the Law of Demand

Conspicuous Goods
Giffen’s Goods
Necessaries
Conspicuous necessities
Future expectation about price
Speculative goods
Irrational Purchases

Summary

Law of Demand
Demand Curve
Slope of Demand Curve
Exceptions to Law of Demand

Elasticity of Demand

Price Elasticity
Income Elasticity
Cross Elasticity

Types of Price Elasticity

Perfectly Inelastic
Relatively Inelastic
Unitary Elasticity
Relatively elastic
Perfectly elastic


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