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ADVERSE SELECTION: When a negotiation between two people with different amounts of information, that is, asymmetric information, restricts the quality of the good traded. This typically happens because the person with more information is able to negotiate a favorable exchange. This is frequently referred to as the "market for lemons."
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BUYERS' EXPECTATIONS, DEMAND DETERMINANT: The expectations that buyers have concerning the future price of a good, which is assumed constant when a demand curve is constructed. Buyers' expectations are one of five demand determinants that shift the demand curve when they change. The other four are buyers' income, buyers' preferences, other prices, and number of buyers. See also | demand determinants | buyers' income, demand determinant | buyers' preferences, demand determinant | other prices, demand determinant | number of buyers, demand determinant | supply determinants | demand | market demand | demand price | quantity demanded | law of demand | demand curve | change in demand | change in quantity demanded | ceteris paribus | satisfaction | Marshallian cross | comparative statics | competition | competitive market | market | consumer surplus | inflationary expectations, aggregate demand determinant |
Recommended Citation:BUYERS' EXPECTATIONS, DEMAND DETERMINANT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 17, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: buyers' expectations, demand determinant
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ALLOCATION EFFECT A change in the allocation of resources caused by placing taxes on economic activity. By creating disincentives to produce, consume, or exchange, taxes generally alter resource allocations. The allocation effect is typically used when governments seek to discourage the production, consumption, or exchange of particular goods or activities that are deemed undesirable (such as tobacco use or pollution). This is one of two effects of taxation. The other (primary) is the revenue effect, which is the generation of revenue used to finance government operations.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a coffee cup commemorating next Thursday or a replacement remote control for your stereo system. Be on the lookout for jovial bank tellers.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"The best way to cheer yourself up is to try to cheer somebody else up." -- Mark Twain
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RJE
RAND Journal of Economics
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