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

Kinds of bargaining arrangements, Kinds of Bargaining arrangements Bas...

Kinds of Bargaining arrangements Basically there are three kinds of bargaining arrangements, namely: Open Shop: In an open shop a union represents its members, but doe

Measuring point elasticity on a linear demand curve, Measuring Point Elasti...

Measuring Point Elasticity on a Linear Demand Curve To explain the measurement of point elasticity of a linear demand curve, let's suppose that a linear demand curve is given b

Per capita income to compare standard of living, PROBLEMS OF USING PER CAPI...

PROBLEMS OF USING PER CAPITA INCOME TO COMPARE STANDARD OF LIVING OVER TIME 1) The composition of output may change. e.g. more defence-related goods may be produced and

Research methods, measurement and scaling techniques in business research

measurement and scaling techniques in business research

Consumer pays for peanut butter, Peanut butter monopolist Calvé supplies pe...

Peanut butter monopolist Calvé supplies peanut butter to Albert Heijn in an isolated village. The supermarket is a monopolist in the village. Demand for peanut butter is given by:

Neo classical vs keynesian school, Neo Classical vs Keynesian School W...

Neo Classical vs Keynesian School We know that Keynesian economics was propounded as a revolution against the then prevailing orthodoxy of the classical school. In time,

Explain what is meant by price discrimination, Problem 1: a) Explain wh...

Problem 1: a) Explain what is meant by ‘price discrimination' and what are the different types of price discrimination. b) Under what conditions is it possible and profitabl

Williamson model, williamson model and managerial discretion about its obje...

williamson model and managerial discretion about its objective and statement of problem

Income elasticity and cross price elasticity, Question: (a) As an advis...

Question: (a) As an advisor to government as well as that to a firm how will you make use of your knowledge on price elasticity of demand, income elasticity and cross price ela

Budgeting, types of capital budgeting

types of capital budgeting

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages