0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
If the income elasticity of demand for a product is -0.5 then?
Income Elasticity:Income Elasticity of Demand is measure of percentage change in demand for a commodity due to 1% change in income of consumers. Negative Income Elasticity :Increase in Income of consumers lead to decrease in the quantity demanded for a commodity.Example: unbranded items.so if Income Elasticity for product is -0.5 then its demand will be decreases as Income of consumers increases.
In what way the income of the consumer affect his buying behavior?
if consumers are receiving a low income then
Survey of disposable income of a thousand consumers?
9
What is a good that consumers will demand more of when their income increase?
food
What are the leakages out of the circular flow of income and output?
The leakage is income received by consumers but not returned to the firms. There are main 3 leakages: savings of consumers ( when consumers save money in banks for using them in the future); imports (when consumers buy products produced by the foreign country, the potential income flows out of the economy's circular flow; thus, this expenditures do not return to the firms);taxes (so that government can pay for health care and education).
If the income elasticity of demand for a product is -0.5 then?
Income Elasticity:Income Elasticity of Demand is measure of percentage change in demand for a commodity due to 1% change in income of consumers. Negative Income Elasticity :Increase in Income of consumers lead to decrease in the quantity demanded for a commodity.Example: unbranded items.so if Income Elasticity for product is -0.5 then its demand will be decreases as Income of consumers increases.
In what way the income of the consumer affect his buying behavior?
if consumers are receiving a low income then
Survey of disposable income of a thousand consumers?
9
How does income get from businesses to consumers?
The transfer and redistribution of capital happens through multiple mechanisms and directional flows. Transfers of income from businesses to consumers can occur through the economic redistribution from taxation. Businesses can also sell to consumers who in-turn resell. Businesses also have what is known as a 'trickle down effect' where their income is paid out to workers, who are also consumers themselves.
What is a good that consumers will demand more of when their income increase?
food
Consumers have the greatest income between which ages?
35-45!
Between which age do consumers have the greatest income?
45-55
Consumers have the greatest income between what ages?
55-65
The movement of income from producers of goods and services to consumers and back to producers is known as what?
Circular Flow Of Income
What happens in a market?
In a product market businesses make and sell goods to consumers. Consumers use their income to purchase these goods.
Why is consumers' discretionary income important to the sports and entertainment industry?
YMCMB
What are the leakages out of the circular flow of income and output?
The leakage is income received by consumers but not returned to the firms. There are main 3 leakages: savings of consumers ( when consumers save money in banks for using them in the future); imports (when consumers buy products produced by the foreign country, the potential income flows out of the economy's circular flow; thus, this expenditures do not return to the firms);taxes (so that government can pay for health care and education).
