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What happens to demand curve when there is a change in factors (other than price) that can affect consumers decision about purchasing the good?
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What tradeoff occurs when a consumer is gathering information for a purchasing decision?
Loss of time and effort to spend on other activities happens when you are attempting to gather information.
Mention a few factors which cause exploitation of consumers?
Exploitation of consumers in the marketplace happens in various ways. For example, sometimes traders indulge in unfair trade practices such as when shopkeepers weigh less than what they should or when traders add charges that were not mentioned before, or when adulterated/defective goods are sold. Thus these above are the factors which causes exploitation of consumers.
How does scarcity impact personal financial decision?
Consumers must make trade-offs to buy what they need. Scarcity happens when the needs and wants of the people exceed available resources (land, labor and capital). It happens in every economy. As a result, people make trade-offs to get what they need. Consumers make decisions to give up one want/need to satisfy another.
How does scarcity impact personal financial decision-making?
Consumers must make trade-offs to buy what they need. Scarcity happens when the needs and wants of the people exceed available resources (land, labor and capital). It happens in every economy. As a result, people make trade-offs to get what they need. Consumers make decisions to give up one want/need to satisfy another.
What happens if no producers were present in an community?
If there are no producers there are no consumers
What happens to a population if there are too many first level consumers?
nothing happens to the habitat
What happens in a market?
In a product market businesses make and sell goods to consumers. Consumers use their income to purchase these goods.
What happens to a product if the factors are changed?
Nothing happens.
What happens to price when a shortage exists?
Consumers bid up the price.
What happens when there is a split decision within a jury?
there is a mistrial
What happens to people on fixed incomes when there is inflation?
His purchasing power goes down
What happens to the amount of energy as it passed from producers to the first order consumers then to the second order consumers?
90% of the energy is lost every time something is consumed.
