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

Demand, distinguish between industry demand and firm demand..

distinguish between industry demand and firm demand..

What is data mining, Q. What is Data mining? Data mining: Data mining...

Q. What is Data mining? Data mining: Data mining is the process of extracting patterns from data. Data mining is seen as an increasingly important tool by modern business to

Features of mixed economy, Features of this system The mixed economy i...

Features of this system The mixed economy includes elements of both market and planned economies.  The government operates and controls the public sector, which typically cons

Cheapening of materials and equipments, Q. Cheapening of Materials and Equi...

Q. Cheapening of Materials and Equipments? Expansion of an industry increases the demand for different kinds of materials and capital equipments. This will result in large scal

Neo-classical view, The neo-classical view The neo-classical view is t...

The neo-classical view The neo-classical view is that market forces are the best directors of the economy.  Positive attempts by the government it is argued inevitably make th

New york offers the payout, Lots of states have scratch offs with various d...

Lots of states have scratch offs with various different monetary payoffs. For example, the "$500 a week for life" in New York offers the payout and odds structure noted below.

#, Illustrate the application of economic theory to some business problems

Illustrate the application of economic theory to some business problems

Objectives of imf, Objectives of IMF To achieve these objectives, the ...

Objectives of IMF To achieve these objectives, the following conditions would have to be fulfilled: - i.            Countries should not impose restrictions in their trade

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