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What does it mean when an economist says a consumer has demand for a good or service?
false
What does an increase in supply of an item usually mean for a consumer?
lots of supply and low demand = lower prices lots of demand and low supply = higher prices demand and supply high = normal prices demand and supply low = normal prices
Shift in the aggregate demand curve?
Remember that aggregate demand is composed of consumer spending, investment spending, government spending, and net export spending. Many things affect consumer spending. The main things are consumer wealth, consumer expectations, household indebtedness, and taxes. The wealthier the consumers, the more they will spend. The higher the consumer's expectations are, the more they will spend. The lower the consumer's indebtedness, the more they will spend. The lower their taxes are, the more they will spend. If consumer spending increases, the aggregate demand curve will shift to the right. As for investment spendings: interest rates and expected returns affect this variable. As interest rates decrease, there will be more investments made. The higher a business's expected return is, the more they will invest. If more investments are being made, the aggregate demand curve will shift to the right. Change in government spending is pretty self explanatory. The more government decides to spend, the more aggregate demand will increase and therefore, shift to the right. For net expert spendings, a rising national income would mean more US exports. Moreover, a depreciation of the dollar causes more US exports. The more net exports there are, the more aggregate demand will increase and therefore, shift to the right.
Some economists believe the economy is self-regulating. What does this mean?
When an economy is self-regulating it means that the laws of supply and demand will be enough to control or monitor spending. If a supply is low the demand becomes higher, this in turn, may drive prices up if producers cannot keep up with consumer demand.
If a product has a inelastic demand a price increase will cause?
I assume you mean that the demand is inelastic? If so, then the consumer will buy the same amount and pay the higher price. The usual example of this would be insulin (assuming you need a fixed amount to live and there are no alternatives)
How are interest rates being affected in the auto industry?
Higher interest rates mean that the demand for cars have increased, due to an increase in consumer demand. Lower interest rates mean that there is a lower demand and the FOMC is lowering the rates to increase consumer demand. Lower rates, however could also increase the demand for cars. This is why the Feds have to higher the interest rates, to ensure that the supply and demand are at an equilibrium point.
What does consumer tastes mean?
a business must always be aware of the changing nature of consumer tastes.
What do you mean by consumer awareness process?
It is the process to which you become aware of consumer buying and value assessment behaviors.
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 does an increase in supply of an item usually mean for a consumer?
lots of supply and low demand = lower prices lots of demand and low supply = higher prices demand and supply high = normal prices demand and supply low = normal prices
What is mean by being aware of opportunity in planning?
it means KAE AMAA FUI
What does it mean to be culturally aware?
Being culturally aware means that you are aware of other cultures, beliefs, perceptions, and values of other people. This is something we should all build up on.
Shift in the aggregate demand curve?
Remember that aggregate demand is composed of consumer spending, investment spending, government spending, and net export spending. Many things affect consumer spending. The main things are consumer wealth, consumer expectations, household indebtedness, and taxes. The wealthier the consumers, the more they will spend. The higher the consumer's expectations are, the more they will spend. The lower the consumer's indebtedness, the more they will spend. The lower their taxes are, the more they will spend. If consumer spending increases, the aggregate demand curve will shift to the right. As for investment spendings: interest rates and expected returns affect this variable. As interest rates decrease, there will be more investments made. The higher a business's expected return is, the more they will invest. If more investments are being made, the aggregate demand curve will shift to the right. Change in government spending is pretty self explanatory. The more government decides to spend, the more aggregate demand will increase and therefore, shift to the right. For net expert spendings, a rising national income would mean more US exports. Moreover, a depreciation of the dollar causes more US exports. The more net exports there are, the more aggregate demand will increase and therefore, shift to the right.
What is an intelligent being?
An intelligent being is an entity capable of learning, reasoning, problem-solving, and adapting to new situations. It possesses the ability to process information, make decisions, and demonstrate understanding and creativity in various contexts. Intelligence can manifest in different forms and levels across species.
What does sentience mean?
It means a thinking and aware animal or being. We are as well as some whales, dolphins and magpies.
Some economists believe the economy is self-regulating. What does this mean?
When an economy is self-regulating it means that the laws of supply and demand will be enough to control or monitor spending. If a supply is low the demand becomes higher, this in turn, may drive prices up if producers cannot keep up with consumer demand.
