inflation
if the consumer`s income changes it will influence the budget line and it will shift to the right.
the rich buy goods that soon can be bought by people with lesser income. It maximizes consumer satisfaction.
In order to get a consumer loan, it is important to consult your local bank. Any bank will be willing to give you a consumer loan depending on factors such as your income and credit score.
Too much creditHigh Debt to income ratioNo positive accounts etablished.To many negative accounts.
Taxes can significantly influence consumer decisions by affecting disposable income and purchasing power. Higher income taxes reduce the amount of money consumers have to spend, potentially leading to more cautious spending habits and prioritization of essential goods. Additionally, sales taxes can deter purchases of certain items, especially luxury goods, as consumers may seek alternatives or delay purchases to avoid these costs. Overall, tax policies shape consumer behavior by altering the financial resources available for discretionary spending.
The answer depends on what is being compared: the income of the same consumer at different stages of their life or the income of a consumer compared with other consumer.
chnage in consumer's equilbrium due to change in income of the consumer..known as income effect.
PlantsSnakeBacteria
Demand shifters include consumer income, number of consumer (population), consumer taste and preferences, and expectations: future prices of complements and substitutes and future income.
A good that decreases in demand when consumer income rises; having a negative Income increases will thus affect the consumption of these goods.
primary producer, primary consumer, secondary consumer, tertiary consumer, quaterary consumer.
The consumer has a small income.
Inferior goodA good for which an INCREASE(decrease) in consumer income will lead to a DECREASE(increase) in demand for that good.Normal GoodA good for which an INCREASE(decrease) in consumer income will lead to a INCREASE(decrease) in demand for that good.
income consumption curve is the collection of points of the consumer's equilibrium resulting from varying income.....
Income effect
if consumers are receiving a low income then
Describe and explain how a rational consumer with a fiven income and taste can allocate his income among the available goods and services