Concept in Definition ABC

In general terms, a claim will refer to an application, a petition or a claim, however, the term has other references according to the context in which it is used..

At the request of right, for example, a lawsuit, will be that request or claim that a person, company, body or association will undertake against another who has ignored or unknown a prior agreement between both, a right, among other issues.

On the other hand, on economy, demand is defined as the quantity and quality of goods and services that can be acquired at the different prices proposed by the market for a consumer or by a group of consumers at a given time.

Of course, those goods that consumers are willing to buy will always depend on their purchasing power.

Demand is expressed graphically through the demand curve, the slope that this curve it holds will determine how demand increases or decreases in the face of a decrease or increase in the price of well. That is why we will talk about elasticity

of the demand curve and you can find three different types of it. Elastic, when the elasticity of demand is greater than 1, the variation in the quantity demanded will be a percentage higher than that of the price. In the inelastic, the opposite occurs, when the demand is less than 1, the variation in the quantity demanded will be as a percentage below the price. And the unit elasticity is given when the elasticity is equal to 1, then, the variation of the quantity that is demanded will be in proportion equal to price.

The factors that will determine the demand of an individual are the price of the good, the level of income, personal tastes, the price of substitute goods and the price of complementary goods.

Almost always the demand curve presents a decreasing orientation, since the higher the price, the consumers will buy less.

Another important consideration to take into account when it comes to demand is that the more people want something, a good or service X, the quantity demanded at all prices will tend to increase rather than decrease, which is popularly known WhatLaw of demand, the higher the price, the lower the demand and the lower the price, the higher the demand.

On-Demand Topics