Nachfrage

[Title Page and Table of Contents]: Title page and table of contents for the entry on 'Nachfrage' (Demand) from the Handwörterbuch der Staatswissenschaften, edited by Elster, Weber, and Wieser. [General Definition of Demand]: Strigl defines demand within the context of direct exchange and monetary economies. He establishes that in a money-based economy, demand specifically refers to the desire to obtain goods for money or the quantity of goods for which money is offered, distinguishing this from the demand for money itself. [Purchasing Power and Market Selection]: This section explores the relationship between demand, scarcity, and purchasing power. Strigl explains that because economic goods are scarce, only 'effective demand' (backed by purchasing power) is realized in the market. He describes the downward-sloping demand curve, the role of price in balancing supply and demand, and the consequences of government interventions like price ceilings (Höchstpreise), which lead to non-price rationing mechanisms like queuing or ration cards. [Special Market Figures and the Role of Demand in the Economy]: Strigl discusses exceptions to standard demand behavior, such as shifts caused by price changes in complementary or substitute goods. He concludes by arguing that demand ultimately directs production in a market economy, as producers seek to satisfy effective demand, with 'marginal demand' (Grenznachfrage) serving as the measure for resource allocation. [Bibliography]: A brief bibliographic note attributing the systematic analysis of demand to the Austrian School and citing American economist J. B. Clark.