efterspørgselens

Efterspørgselens, often translated as "demand" in English, is a fundamental concept in economics. It refers to the quantity of a good or service that consumers are willing and able to purchase at various prices during a specific period. Several factors influence demand, including price, consumer income, the prices of related goods (substitutes and complements), consumer tastes and preferences, and expectations about future prices or availability.

The law of demand posits an inverse relationship between price and quantity demanded, assuming all other factors remain constant. This means that as the price of a good increases, the quantity demanded generally decreases, and vice versa. This relationship is often illustrated graphically by a downward-sloping demand curve.

Changes in the non-price determinants of demand can cause the entire demand curve to shift. An increase in consumer income, for instance, might lead to an outward shift (increase in demand) for normal goods, while a decrease in income might cause an inward shift (decrease in demand). Similarly, if the price of a substitute good rises, the demand for the original good may increase. Understanding the dynamics of demand is crucial for businesses in setting prices and production levels, and for policymakers in analyzing market behavior and economic trends.