Abstract
The purpose of the theory of demand is to determine the various factors that affect demand. One often reads that the raison d’être of the theory of demand is the establishment of the ‘law of demand’ (that the market demand is negatively related to the price) but this is misleading in that it concentrates on price as the sole determinant of demand, ceteris paribus.
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Theory of Demand
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© 1979 A. Koutsoyiannis
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Koutsoyiannis, A. (1979). Theory of Demand. In: Modern Microeconomics. Palgrave, London. https://doi.org/10.1007/978-1-349-16077-8_2
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DOI: https://doi.org/10.1007/978-1-349-16077-8_2
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