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Change in consumer Taste/preference:Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to increase whilst declining taste or preference causes demand to fall, ceteris paribus. Taste or preference for goods and services are influenced by advertisement, fashion and sales promotions. Change in consumer expectationsThe decision to buy a commodity today is influenced by the expected future price of the commodity and expected change in consumer income. If a consumer anticipates the price of a commodity to increase in future, today’s demand for the commodity will increase but if the consumer anticipates a fall in future price, then today’s demand for the commodity will fall.Similarly, an expected consumer income increase may cause demand for a normal commodity to increase and vice versa.
a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what hap
Random sampling is a technique for sampling which we can select a group of subjects or a sample for study from a larger group or a population. Each entity individually is chosen en
An Exception: OECD Economies It isn't inevitable that there be such divergence. United States--with its 14 to 25-fold increase in output per worker over the years since 1870-ha
The Effects of Advertising on the Demand Curve: Advertising targets to: • Change the slope of the demand curve which means make it more inelastic. This is done by generat
Production without capital is hard for us even to imagine. Nature cannot furnish goods and materials to man unless he has the tools and machinery for mining farming forestry fishin
QUALITY OF EMPLOYMENT : Productivity of Employment In a poor country like India being employed does not by itself necessarily ensure a decent level of living. In 1999-2000 th
The demand for every productive resources is a derived demand. By derived demand it is meant that it is the output of the resource and not the resource itself for which is a deman
A 1500 word research paper on the economic, social or environmental effects of the widespread use of robots in factories (this meets Learning Outcome 4)
Summary of Demand and Supply Considerations of Education A study of supply and demand considerations in education helps in understanding four major issues and concerns of an e
Question-1 : This question is designed to show your understanding of stock market terminology and also the impact of currency exchange rate. You are a Swiss Franc (CHF) based inv
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