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What is the desire of the consumer to have something backed up with willingness and ability to pay for it?
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Difference between potential demand from effective demand?
effective demand is the willingness and desire to have a commodity backed by purchasing power whereas potential demand is the willingness and desire to have a commodity not backed by purchasing power
A want becomes a demand only when it is backed by?
a want becomes a demand only when it is backed by the ability to purchase.
Relationship of money to economy?
Economy encompasses the whole of buying and selling of goods and services. Money is the currency used to buy and sell. Money is either coins or paper that is symbolic of the wealth it represents. Money backed by gold is stronger and more reliable than money backed by copper. Fiat money is utterly useless as there is nothing but consumer confidence to back it. Gold and even copper have been around and backing currency for thousands of years, and will always possess intrinsic value. Consumer confidence is as fickle as a 13 year old boy at a Sadie Hawkins dance and possess no intrinsic value. A dollar floated as "fiat" is a vulnerable currency, and if other forms of currency are entered into the same market economy that are backed by money with intrinsic value the fiat dollar will weaken as the money backed by wealth will strengthen.
What is Commodity-backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
Why did populists want the US to move from a currency backed by gold to one backed by both gold and silver?
It would increase the supply of money.
Difference between potential demand from effective demand?
effective demand is the willingness and desire to have a commodity backed by purchasing power whereas potential demand is the willingness and desire to have a commodity not backed by purchasing power
A want becomes a demand only when it is backed by?
a want becomes a demand only when it is backed by the ability to purchase.
What is the definition and examples of various types of demand?
The term demand implies a 'desire' for a commodity backed by the ability and willingness to pay for it. Unless a person has adequate purchasing power or resources and the preparedness to spend his resources,his desire for a commodity would not be considered as demand.
Is every dollar in circulation backed by an ounce of gold?
That has never been true. Only gold certificates were backed by gold, and they were discontinued in 1933. Silver certificates were backed in silver until 1968. Since then all money has been so-called "fiat" money where its value is maintained only by the credit and stability of the U.S. government, and citizens' willingness to accept the bills as worth specific amounts in purchasing power.
What is a feature of most student loans?
They are backed by the US Government is a big one. They also tend to have a lower interest rate than conventional loans. Another factor is the ability to extend or defer payment, something that is often not available with a normal loan.
What are human wants?
what is the meaning of human wants? These are either wishes or desires which give us maximum satisfaction. some characteristics of human wants are:1. They are often expressed as irrespective of prices or level of income2. They give us maximum satisfaction3. They are unlimited and are not backed up by the ability or willingness to pay.Some examples of human wants are: bikes, cars, air conditioners, beautiful clothes.
What is the definition of Fiat money?
"Fiat money, is money that is not backed by something with vaule. US money is backed by commodites like silver and gold. Fiat money is money declared by a government to be legal, eventhough it has no value."
In lines 511 Beowulf boasts of his legendary?
Beowulf boasts of his legendary strength and courage, claiming that he has never backed down from a fight. He emphasizes his prowess in battle and his willingness to face even the most formidable opponents.
Does critique mean your opinion?
It means someone's opinion, not necessarily yours, backed with arguments and data, about the merits and demerits of something.
A car passed methen I backed up out of a space it was clear then she backed up into me Who is at fault?
the lady who backed into you, clearly she wasnt paying attention and backed into your car
What is the US dollar backed by?
sadly it is backed only by promises. It used to be backed by gold but that was taken away and now it is backed by nothing.
Why does my 97' dodge ram 1500 suck air and die at an idle?
Because you have a backed up header or something why the truck can breath.
