0
What does rapid increase in demand for a good mean for a consumer?
Wiki User
∙ 9y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
If a is an inferior good and consumer income risesthe demand for a will?
Inferior goodA good for which an INCREASE(decrease) in consumer income will lead to a DECREASE(increase) in demand for that good.Normal GoodA good for which an INCREASE(decrease) in consumer income will lead to a INCREASE(decrease) in demand for that good.
What is the effect of an increase in consumer income on demand for a good?
They both will increase (or decrease).
How can consumer expectations affect demand?
If consumer expected price increase for any reason in such good, he will buy it before the time he expects to apply for that increase and accordingly will increase demand and vice versa.
Why does a Demand curve for a normal good downward sloping?
I. An increase in the price of the good induces consumers to purchase substitute products. . II. An increase in the price of the good reduces consumer' purchasing power. III. Law of Demand- Inverse relationship between price and quantity
The principles that states that the consumer will buy less as the price increases?
supply and demand/ it states that as the price of a good or service goes down the more demand will increase and as the price goes up demand decreases
If a is an inferior good and consumer income risesthe demand for a will?
Inferior goodA good for which an INCREASE(decrease) in consumer income will lead to a DECREASE(increase) in demand for that good.Normal GoodA good for which an INCREASE(decrease) in consumer income will lead to a INCREASE(decrease) in demand for that good.
What is the effect of an increase in consumer income on demand for a good?
They both will increase (or decrease).
How can consumer expectations affect demand?
If consumer expected price increase for any reason in such good, he will buy it before the time he expects to apply for that increase and accordingly will increase demand and vice versa.
What will happen in the market if the demand of a good increase as well as cost of producing the good?
The cost to the consumer increases respectively.
How can a business try to increase the demand for a product?
A business can increase the demand for the good by advertising about there product more by by coating less prices on the good and also by giving a better qualities of the good in a cheaper rate till they have a strong consumer base
Why does a Demand curve for a normal good downward sloping?
I. An increase in the price of the good induces consumers to purchase substitute products. . II. An increase in the price of the good reduces consumer' purchasing power. III. Law of Demand- Inverse relationship between price and quantity
The principles that states that the consumer will buy less as the price increases?
supply and demand/ it states that as the price of a good or service goes down the more demand will increase and as the price goes up demand decreases
Who determines the demand for a good or service?
The consumer.
What is technique advertisers employ to increase consumer demand for their goods and srevices?
Advertisers use the following techniques to increase consumer demand for their good and services:Turning luxuries into necessities.Jumping on the bandwagonSlogans or jinglesSavings or free appealGetting people in movies to use their productsCreating images of consumption on popular TV shows
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.
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.
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.
