Define summation of demand?
i tried googling it but nothing good/specific came up...
Answer:
summation of demand is a macroeconomics referring to the addition of the demand curves for every market. when microeconomics deals with specific industries that face the so-called industry demand curves macroeconomics deals with the economy as a whole which is why it has to add together all the industry demand curves to form a collective economy demand curve.
Try a library. Or a dictionary. Or actually open your textbook.
demand refers to the demand function, graphicaly is downward sloping. when you want to get a demand curve for the market you need to sum up individual demand curves. this is called summation of demand. summing up individual demand to get market demand. you should also know it that the final curve that you get for the market is on the right side of all demand curves that are for individuals. to include this phenomena too, we then call it horizontal summation of demand. need more help you are welcome
Summation of demand is an aggregated demand.
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