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What impact will a negative demand shock have on the main measures of economic performance?
Wiki User
∙ 12y ago
REal GDP will increase , inflation will increase, and unemployment will decrease
Wiki User
∙ 12y ago
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What are the economic implications of elasticity of demand measures to an economic agent?
The economic implications of elasticity for demand measure of an economic agent are positive. Elasticity helps measure the response of one economic variable when there is change seen in another variable. Economic agents use elasticity as a way to understand the impact of economic action that has been undertaken.
Distinguish between industry demand and firm demand?
Industry demand is subject to genera economic conditions. Firm demand is determined by economic conditions and competition
The demand for a luxury good whose purchase would exhaust a significant portion of one's income?
The demand for a luxury good which when purchased would exhaust a significant portion of one's income would be considered relatively price elastic. Elasticity measures how responsive a particular economic variable is to a change in another economic variable.
What is the definition of Economic Demand?
no answer
Different states of demand?
Negative demand No demand Latent demand Declining demand Irregular demand Full demand Overfull demand Unwholesome demand
After computing a elasticity demand and it result was negative what does it implies in economic?
The price elasticity of demand should be negative. This is because the relationship between demand and price, according to the law of demand, is negative.
What are the economic implications of elasticity of demand measures to an economic agent?
The economic implications of elasticity for demand measure of an economic agent are positive. Elasticity helps measure the response of one economic variable when there is change seen in another variable. Economic agents use elasticity as a way to understand the impact of economic action that has been undertaken.
Distinguish between industry demand and firm demand?
Industry demand is subject to genera economic conditions. Firm demand is determined by economic conditions and competition
Demand states in marketing with examples?
negative demand
Demand states and marketing tasks in negative demand?
a. Negative: Target market is aware of product but not interested or don't like it e.g. vegans have negative demand for meat i. Marketing Task: Reverse demand (conversional marketing)
The demand for a luxury good whose purchase would exhaust a significant portion of one's income?
The demand for a luxury good which when purchased would exhaust a significant portion of one's income would be considered relatively price elastic. Elasticity measures how responsive a particular economic variable is to a change in another economic variable.
What is the definition of Economic Demand?
no answer
In economic what is a change in demand?
It is a shift of the demand curve to the right (an increase in demand) or to the left (a decrease in demand).
Different states of demand?
Negative demand No demand Latent demand Declining demand Irregular demand Full demand Overfull demand Unwholesome demand
Which direction does the demand curve slope?
Is always negative. (should be in all caps for emphasis)
How do you explain What are the types of demand?
Negative demand nonexistent demand latent demand declining demand Irregular demand full demand overfull demand unwholesome demand
What is wholesome demand?
Wholesome demand is the demand for a product in which there are negative attributes of the product. Some examples would be alcohol and cigarettes, which are in demand among some consumers but also get negative feedback from others.
