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Which economic concept is defined as the measure of how responsive consumers are to price change?
Wiki User
∙ 9y ago
consumer expectation
Wiki User
∙ 9y ago
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What economic concept is defined as the measure of how responsive consumers are to price change?
That one.
Explain market concept?
Marketing concept refers to the philosophy that firms should analyze the desires of the consumers and make decisions on how to achieve those demands. This also defined as the companyÕs capability with the customersÕ wants.
Is defined as the establishment of an economic system in a society?
sociology
What is economic bad?
Ecomic bad may be defined as the factors which affect the development of economic activities.
Is demand defined as the amount of a good or service that consumers are willing and able to buy at a price?
yes
What economic concept is defined as the measure of how responsive consumers are to price change?
That one.
Is a economic region a human region?
Yes. Economics are purely a human concept, so an economic region is a "human defined region"
Explain market concept?
Marketing concept refers to the philosophy that firms should analyze the desires of the consumers and make decisions on how to achieve those demands. This also defined as the companyÕs capability with the customersÕ wants.
Why are points lines and planes sufficient?
From the concept of a point, one can define a line. Once the concept of a line is defined, one can define a plane. From the concept of a plane, any higher dimension geometrical object can be defined, e.g. a volume.
Is defined as the establishment of an economic system in a society?
sociology
What is economic bad?
Ecomic bad may be defined as the factors which affect the development of economic activities.
What are efficiencies?
efficiency is defined as the concept of mechanical advantage and velocity ratio.
Why is the area of a rectangle length times breadth?
That is how the concept of area is defined!
What is the concept of regionalism about?
The concept of regionalism is defined as the principle or system of dividing a city or a state into separate administrative regions and the advocacy of such principle.
Is demand defined as the amount of a good or service that consumers are willing and able to buy at a price?
yes
What is an example of a region defined by economic activity?
(example): the corn belt
Is defined as an economic resource as a group as a subject of study and as a process?
business
