We explain what demand is and how it relates to supply. What are the assumptions that determine it. What is a lawsuit.
In the economy, demand is studied together with supply.
What is demand?
The concept demand comes from the Latin demandāre and, in the first instance, is defined as an application or a petition. However this concept is of great importance both in the economy and in law, so its definition can be much broader.
Demand, in economics, refers to the amount of goods or services that people want to get, to meet their needs or desires.
These goods or services can be very varied, such as food, transportation, education, leisure activities, medicines, among many other things, which is why virtually all human beings are considered to be demanders.
In addition: 10 Examples of Supply and Demand.
The demand is considered to be influenced by five assumptions that will determine the increase or decrease in demand:
- Price First, the price of goods and services. That is to say, the monetary value is the same. Prices are generally inversely proportional to demand.
- Offer. The second assumption is the disposition of goods and services (supply), i.e. whether there is an individual or company offering them and in what quantities.
- Place. In third place the place can be mentioned, that is to say which is the means in which the goods or services are offered, this space can be physical or virtual.
- Ability to pay. In fourth place is the ability to pay of the plaintiff, i.e. whether he has the monetary means to access goods.
- Needs. The last assumption that can be mentioned are wants and needs. Needs are those that are basic, such as food, clothing, etc. Desires are more specific desires such as the purchase of clothing of a particular brand.
Demand is studied in economics together with supply, i.e. the quantity of goods or services available for sale. Both are analyzed together since these two are the ones that determine the quantity of goods and services that will be produced and the economic value they will have.
The complaint must always be submitted in writing.
From the legal point of view, the lawsuit is understood as a legal petition in which the claims are formulated by one of the actors. It is intended that a judge intervene, either from the protection or the recognition of the request.
The complaint must be submitted in writing, stating the reason for the complaint and the law supporting it.
Some of the obligatory requirements that the claim must present are the data of the defendant and the data of the claimant, the facts that lead to the claim, expressed in a precise way, the thing that is demanded, what is intended, expressing it in a positive and clear way, and finally the right that one wishes to assert.
The effects of a lawsuit can be very diverse. They can be procedural or substantial. The former refer to the plaintiffs, i.e. the plaintiff, the defendant and the judge.
In the case of substantial effects they are multiple and their classification is arduous since the same lawsuit appeals to different rights.