What is an effective need of demand, Managerial Economics

Assignment Help:

What is an effective need of demand

1.  An Effective Need: Effective need demands that there must be a need supported by the capacity and readiness to shell out. Henceforth there are three basics of an effective need:
a. The individual must have a need to attain a specific product.
b. He should have enough funds to pay for that product.  
c. He must be willing to part with these resources for that commodity.


Related Discussions:- What is an effective need of demand

LIne balancing, what is line balancing for paper machine?

what is line balancing for paper machine?

Economics for accountants, Economics for Accountants A few teachers an...

Economics for Accountants A few teachers and some students have questioned the rationale for including economics in a course of study for professional accountants. In order to

Limitation of bank rate, Limitation The degree or success with which t...

Limitation The degree or success with which the central bank can use its bank rate policy to control the total credit in the economy depends upon the interest elasticity of in

Concepts of elasticities in making decisions, Question 1: "Anyone who i...

Question 1: "Anyone who is willing to learn the language of economics and take the time to practice making decisions can learn to be an effective manager." Explain how. Qu

Compettitive market, Tomato Farm is selling tomatoes in a purely competitiv...

Tomato Farm is selling tomatoes in a purely competitive market. Its output is 5000 bushels, which sell for $15 a bushel. At this level of output, the marginal cost is $15 bushel an

Real rigidities in the goods market, Real Rigidities in the Goods Market  ...

Real Rigidities in the Goods Market   The most important factor associated with real rigidity in  the goods market  is the existence of  imperfect  competition.  Imperfect comp

Utility analysis or cardinal approach, Utility Analysis or Cardinal Approac...

Utility Analysis or Cardinal Approach: The Cardinal Approach to the theory of consumer behavior is based upon the concept of utility. It assumes that utility is capable of meas

Opportunity costs, Why do the inclusion of opportunity costs in cost-and-su...

Why do the inclusion of opportunity costs in cost-and-supply analyses help individuals make better decisions and improve outcomes?

Effects of delegating monetary policy, Question: (a) Under what condit...

Question: (a) Under what conditions would a central bank be considered independent. (b) Discuss the effects of delegating monetary policy making to an independent agent on

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd