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What the market/people demand. IE, it's winter time and people need shovels. So people will go to buy shovels. As a whole, lets say a store sells 25 shovels that day. That is the market demand. That's how many shovels people want. If the store had only 20 shovels to sell, there are still 25 people who want shovels, so the market demand is 25, yet the supply is only 20.
What else can I help you with?
Consumers create a demand for something by?
Consumers create a demand for something by?
Example of factor market?
An example of factor market is the automobile market. This is a market that exists as a result of demand for something that consumers use.
What is an example of something that reduces demand for a product?
Often when prices are too high and demand for a product or service lessens, it is because consumers have found a suitable substitute.
What accurately describes in which consumers have elastic demand?
Consumers have elastic demand when their quantity demanded for a product significantly changes in response to price fluctuations. This typically occurs with non-essential goods or services, where substitutes are readily available, allowing consumers to easily switch if prices rise. For example, luxury items or specific brands often exhibit elastic demand, as consumers can forgo these purchases or choose alternatives if the price increases. Conversely, essential goods with fewer substitutes tend to have inelastic demand, as consumers will continue to purchase them regardless of price changes.
What are the factors that affect demand forecasting?
- consumers may not be aware of actual demand in future - answers from consumers are not real - consumer response are biased - plan of consumers change with time
Consumers create a demand for something by?
Consumers create a demand for something by?
Example of factor market?
An example of factor market is the automobile market. This is a market that exists as a result of demand for something that consumers use.
What is an example of something that reduces demand for a product?
Often when prices are too high and demand for a product or service lessens, it is because consumers have found a suitable substitute.
Example of nonexistent demand?
the previous demands of consumers which are totally replaced by much better products ...like bajaj scooters
What accurately describes in which consumers have elastic demand?
Consumers have elastic demand when their quantity demanded for a product significantly changes in response to price fluctuations. This typically occurs with non-essential goods or services, where substitutes are readily available, allowing consumers to easily switch if prices rise. For example, luxury items or specific brands often exhibit elastic demand, as consumers can forgo these purchases or choose alternatives if the price increases. Conversely, essential goods with fewer substitutes tend to have inelastic demand, as consumers will continue to purchase them regardless of price changes.
Law of demand and supply?
Consumers is the law of supply and demand.
What is an example of inversely related?
An example of two variables that are inversely related is the price of a product and the quantity demanded by consumers. As the price of a product increases, the quantity demanded by consumers typically decreases, and vice versa. This relationship is described by the law of demand in economics.
What are the factors that affect demand forecasting?
- consumers may not be aware of actual demand in future - answers from consumers are not real - consumer response are biased - plan of consumers change with time
What is demand and quantity of demand?
Demand is a function that defines how much of a certain good are the consumers willing to purchase at a given price.Quantity of demand is the quantity of a certain good the consumers are willing to purchase at a given price, as defined by the function of demand.
What is an example of a demand condition?
An example of a demand condition is consumer preferences for eco-friendly products. When a significant number of consumers actively seek sustainable and environmentally friendly options, it creates strong demand for such products. This demand condition can drive companies to innovate and produce more green alternatives, influencing market trends and competitive strategies.
Is individual demand curve and market demand curve same for identical consumers?
NO
For consumers when there is the goods they want to buy?
demand
