Markaðseftirspurn

Markaðseftirspurn, often translated as market demand, refers to the quantity of a good or service that consumers are willing and able to purchase at various price levels within a given market and time period. It is a fundamental concept in economics that helps determine the equilibrium price and quantity of a product. Several factors influence market demand, including consumer income, the prices of related goods (substitutes and complements), consumer tastes and preferences, consumer expectations about future prices and availability, and the number of buyers in the market.

Generally, the law of demand states that, all other factors being equal, as the price of a good or service increases, the quantity demanded will decrease, and vice versa. This inverse relationship is typically represented by a downward-sloping demand curve. Changes in the non-price determinants of demand will cause the entire demand curve to shift. An increase in demand leads to a rightward shift, while a decrease in demand causes a leftward shift. Understanding market demand is crucial for businesses in making decisions about production, pricing, and marketing strategies. It also plays a vital role in macroeconomic analysis and policy-making.