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How might the purchase decisions of consumers impact a market economy?
By buying some products, but not others, consumers might determine what is produced.
How does the diminish marginal utility and price of superior goods determine negative slope in demand curve?
1. because of substitution effects: When the price of a commodity falls, it become relatively cheaper than other commodities. This induces the consumer to substitute the commodity whose the price has fallen for other commodities, which have now become relatively expensive 2. Income Effect: When the price of the commodity falls, consumers can buy more quantity of commodities with the given income as a result of a fall in the price of that commodity 3. Number of consumers: When more numbers of consumers start buying the commodity, because some of them previously was not afford to buy it. 4. Various use of that commodity 5. Law of diminishing marginal utility
Why would some U.S. consumers decide to purchase these goods if cheaper goods were available?
The perceived value of the good is greater than the extra cost.
Why would some US consumers decide to purchase these good if cheaper goods were availble?
The perceived value of the good is greater than the extra cost
What are some examples of commodities in economics?
A primary product like oil or coffee.
How might the purchase decisions of consumers impact a market economy?
By buying some products, but not others, consumers might determine what is produced.
What are some different products that Gabay's offers to consumers?
Gabay's offer many different products to consumers and can range to a vast plethora of options. Some of the most common commodities offered by Gabay's are shoes and clothing for both men and women.
How can one purchase a commodity online?
One can purchase a commodity online using many different websites. Some examples of websites that allow one to purchase a commodity include Commodity Online and Kotak Commodities.
What is the difference between primary secondary and tertiary consumers?
Some consumers are called "primary consumers" and others are called "secondary consumers" because the primary consumer is the first consumer and a secondary is the second consumer.
What consumers are in the forest?
some consumers in the deciduous forest is birds, monkeys, mushrooms, and lots more um animals that eat others and consumes them
How have some government regulators affected consumers?
Regulations can affect the varieties and qualities of foods available for purchase, the prices consumers face, the information consumers receive about a product, and consumer confidence in the food supply.
What motivates consumers?
the drive that initiates all our consumption behaviors, and consumers have multiple motives, or goals. Some of these are overt, such as a physiological thirst that motivates a consumer to purchase a soft drink
What are some second level consumers in a desert?
Wolves, foxes, coyotes, bobcats, cougars, badgers, and skunks are all examples of second level consumers. There are others.
What kind of animals are desert consumers?
Desert consumers are desert animals that eat other animals or plants. Some desert consumers are camels, scorpians, sand cats, Addax antelope and many others.
What different guitar packages are available to purchase?
There are several different guitar packages that are available to purchase by consumers. Some of the different guitar packages that are available for purchase are: electric, and non-electric guitars.
Why did some ancient Greek settlements trade?
To exchange their surplus commodities for other commodities they needed. To make a financial profit from trading commodities and services.
What type of consumers are amphibia?
Amphibians generally eat arthropods, such as insects and spiders. Some of their prey are primary consumers, and others are secondary consumers. Because they usually eat both kinds, it is hard to say whether they are secondary or third level consumers.
