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An increase in the demand for gasoline today caused by concerns that gasoline prices will be higher tomorrow is most likely attributable to consumer expectations or consumer preferences?
Wiki User
∙ 11y ago
- consumer preference
Wiki User
∙ 11y ago
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What are the 5 non-price determinants of demand?
consumer tastes and preferences market size income prices of related goods consumer expectations
What are the demand shifters?
Demand shifters include consumer income, number of consumer (population), consumer taste and preferences, and expectations: future prices of complements and substitutes and future income.
The most important determinant of consumer spending is?
consumer expectations
How does consumer expectation affect demand for a certain goods?
When there is high preferences for taste of a certain product, example chicken meat, even if prices rises demand will not fall significantly, vice versa when taste and preferences changes from Good A to Good B, even if the price of good A falls drastically, demand would not rise significantly. -Johancsy
What three changes can effect the demand of a specific product?
These Are Four factors that Affect Consumer Demands ! 1. Consumer Income 2. Expectations 3. Tastes and Trends 4. Population and Change
What are the 5 non-price determinants of demand?
consumer tastes and preferences market size income prices of related goods consumer expectations
What are the demand shifters?
Demand shifters include consumer income, number of consumer (population), consumer taste and preferences, and expectations: future prices of complements and substitutes and future income.
The most important determinant of consumer spending is?
consumer expectations
How would you define a knowledge gap?
Knowledge gap --The difference between the consumer's service expectations and management's perception of consumer's expectations
What is the theory of consumers choice?
In microeconomics, the theory of consumer choice relates preferences (for the consumption of both goods and services) to consumption expenditures; ultimately, this relationship between preferences and consumption expenditures is used to relate preferences to consumer demand curves.
What does consumer health mean?
Consumer health is a field of study that concerns the informatics of multiple consumer (or patient) views.
Distinguish Lifestyle of consumer and nonconsumer?
There are many ways to distinguish the lifestyle of a consumer and a nonconsumer. You can for example look at preferences.
How does consumer expectation affect demand for a certain goods?
When there is high preferences for taste of a certain product, example chicken meat, even if prices rises demand will not fall significantly, vice versa when taste and preferences changes from Good A to Good B, even if the price of good A falls drastically, demand would not rise significantly. -Johancsy
What type of economy is driven by producers responding to consumer preferences?
market
What is a reason why information is necessary for a wise consumer?
to match your preferences- Novanet
What is a producers relationship to a consumer?
Producers are the ones who creates or produce goods and services that must meet the consumer's expectations.
What does the OLAP do?
The OLAP allows Nabisco to accurately track sales and consumer preferences
