Demand — Concept Maps
NIOS · Class 10 · Economics
4 concept maps of Demand for NIOS Class 10 Economics, each also written out as a text outline. Part of the NIOS Class 10 Economics syllabus.
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Decision flow showing how desire becomes demand when ability and willingness to pay are present
The map in words
- Do you want it?
- Yes: Do you have money?
- Yes: Will you pay the price?
- Yes: Demand
- No: Desire Only
- No: Desire Only
- Yes: Will you pay the price?
- No: Not Desire
- Yes: Do you have money?
Mind map showing all four main factors that influence how much of a good an individual demands
The map in words
- root((Factors Affecting
- Individual Demand))
- Price of Commodity
- Higher price
- Lower price
- Price of Related Goods
- Substitute goods
- Complementary goods
- Income of Buyer
- Normal goods
- Inferior goods
- Tastes and Preferences
- Fashion trends
- Personal choices
- Price of Commodity
Shows the inverse relationship between price changes and quantity demanded
The map in words
- Price Increases
- Less Affordable: Quantity Demanded Decreases
- Price Decreases
- More Affordable: Quantity Demanded Increases
Demand
The map in words
- Demand
- Meaning of demand
- Demand and desire
- Individual demand
- Individual demand schedule
- Law of demand
- Demand curve
- Reasons for downward slope
- Related goods
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