| 单词 | demand function |
| 释义 | demand function A function showing how the demand for any good or service is determined. Both at the individual and aggregate level, demand depends on income, and on the price of the good concerned. The demand curve plots demand against the good's own price, holding other factors constant. Demand also depends on other factors, including the prices of other goods, particularly those of close substitutes and complements; and on factors such as the weather or changes in fashion. Demand for consumer durables is influenced by consumers' existing stocks of them: the more people have such goods already, the fewer will wish to buy them. |
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