The word demand is so common and familiar with every one of us that it seems superfluous to define it. The need for precise definition arises simply because it is sometimes confused with other words such as desire, wish, want, etc. Demand in economics means a desire to possess a good supported by willingness and ability to pay for it. If you have a desire to buy a certain commodity, say, a car, but... 

Individual behavior can be affected by the relationship between group members or work group inside the organization. Culture of the organization may also have impact on personal behavior. A consideration of a cultural group that what is important, desirable and worthwhile indicates the cultural values. People in the organizations share their cultural values, which becomes the basis for individual value... 

Marginal Rate of Substitution (MRS): The concept of marginal rate of substitution (MRS) was introduced by Dr. J.R. Hicks and Prof. R. G. D. Allen to take the place of the concept of Diminishing Marginal Utility. Allen and Hicks are of the opinion that it is unnecessary to measure the utility of a commodity. The necessity is to study the behavior of the consumer as to how he prefers one commodity to...