Economic Demand Measure
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An Economic Demand Measure is a demand measure for an economic item.
- Context:
- Measure Output: Economic Demand Value.
- It can range from being Individual Economic Demand to being Aggregate Economic Demand.
- It can range from being Increasing Economic Demand to being Decreasing Economic Demand.
- It can range from being Strong Economic Demand to being Weak Economic Demand.
- …
- Example(s):
- Counter-Example(s):
- See: Cross-Price Elasticity of Demand.
References
2014
- http://www.investopedia.com/terms/d/demand.asp
- QUOTE: An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. Holding all other factors constant, the price of a good or service increases as its demand increases and vice versa.
Think of demand as your willingness to go out and buy a certain product. For example, market demand is the total of what everybody in the market wants.
Businesses often spend a considerable amount of money in order to determine the amount of demand that the public has for its products and services. Incorrect estimations will either result in money left on the table if it's underestimated or losses if it's overestimated.
- QUOTE: An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. Holding all other factors constant, the price of a good or service increases as its demand increases and vice versa.