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What defined as the amount of a good or service that a consumer is willing to buy?
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∙ 9y ago
Demand
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∙ 9y ago
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What it the amount of good or service that a consumer is willing to buy?
The term for that definition is effective demand
Is demand defined as the amount of a good or service that consumers are willing and able to buy at a price?
yes
Is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period?
Demand
What is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period?
demand
Is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period.?
demand curve
What it the amount of good or service that a consumer is willing to buy?
The term for that definition is effective demand
What is the amount of a good or service that a consumer is willing to buy is?
The term for that definition is effective demand
Is demand defined as the amount of a good or service that consumers are willing and able to buy at a price?
yes
Is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period?
Demand
What is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period?
demand
What is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period.?
demand
Is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period.?
demand curve
What is the definition of consumer surplus?
Consumer surplus is the amount a buyer is willing to pay minus the amount the buyer actually pays.
Critically examine the concept of consumer's surplus?
Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the demand curve) and the total amount that they actually do pay (i.e. the market price for the product). The level of consumer surplus is shown by the area under the demand curve and above the ruling market price as illustrated in the diagram below:
What is the amount of a good or service that consumers are willing to buy at a certain price?
supply
What is the amount of a good or service that producers are willing to provide called?
Demand
Define consumer's surplus Explain the difficulties in its measurement?
It's the amount a buyer is willing to pay for a commodity, minus the actual amount the buyer pays.
