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Is the process ofreducing consumer demand for a good or service to a level that?
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Who determines the demand for a good or service?
The consumer.
When a consumer is able willing to buy a good or service he or she creates what?
When a consumer is able and willing to buy a good or service he or she creates a demand.
When you purchase goods or services what does it create?
When a consumer is able and willing to buy a good or service he or she creates a demand.
If there is excess demand for a product or service what will happen to the price?
there is consumer advice
What defined as the amount of a good or service that a consumer is willing to buy?
Demand
Who determines the demand for a good or service?
The consumer.
When a consumer is able willing to buy a good or service he or she creates what?
When a consumer is able and willing to buy a good or service he or she creates a demand.
When you purchase goods or services what does it create?
When a consumer is able and willing to buy a good or service he or she creates a demand.
If there is excess demand for a product or service what will happen to the price?
there is consumer advice
What defined as the amount of a good or service that a consumer is willing to buy?
Demand
What does it mean when an economist says a consumer has demand for a good or service?
false
What does it mean when an economist says that a consumer has a demand for a good or service?
When an economist says that a consumer has a demand for a good service, it means that this consumer has a willingness to pay for that good or service. This means the consumer: 1) achieves a certain level of utility (happiness) from the good or service; 2) will trade-off some of their other production, represented as income, for that good in certain amounts. Demand is generally represented in two forms: 1) a demand schedule, which lists the quantity demanded at varying price levels and is mathematically discrete; 2) a demand function, which is the same as a demand schedule but is a 'curve' on a graph, being continuous.
What two things are necessary for a consumer to have demand for a good or service?
The desire for a good or service with the ability to pay for it.
How does consumer expectation affect demand for certain goods?
Expectations of future events affect the current demand for a good or service.
What is individual demand and market demand?
Individual demand is the demand of one individual consumer in the market for a good or service.Market demand is the total combined demand of all consumers in the market for a good or service.
Which of these is an example of a market economic system?
The Price of a good or service is detrimend by consumer demand
What it the amount of good or service that a consumer is willing to buy?
The term for that definition is effective demand
