BASES FOR THE STUDY OF CONSUMER DEMAND.

The article reports on the study of consumer demand in the field of marketing. The author focuses on aspects of consumer behavior that affect many aspects of the production, distribution, and other aspects of industrial development. It is suggested that businessmen need information about demand to make decision relating to product quality and production rate. Statistical, economical, and psychological approaches to the study of consumption are discussed in detail. Economist Adam Smith's theory of consumption is also examined.