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February 25, 2024 

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UNPLANNED INVESTMENT: Investment expenditures that the business sector undertakes apart from those they intend to undertake based on expected economic conditions, interest rates, sales, and profitability. Another term for unplanned investment is change in inventories, which result when aggregate expenditures differ from aggregate output. Unplanned investment can be either positive or negative, meaning business inventories can either rise or fall. Should unplanned investment occur, then actual and planned investment differ, aggregate expenditures are not equal to aggregate output, and the macroeconomy is not in equilibrium.

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CONSUMER BEHAVIOR: Actions (that is, behavior) undertaken by people (that is, consumers) that involve the satisfaction of wants and needs. Such actions often, but not always, involve the acquisition (that is, purchase) of goods and services through markets. The study of consumer behavior is fundamental to the understanding of the demand-side of the market. From a marketing perspective, the patterns, actions or steps in the process of decision making by consumers. The decision making process is influenced by various attitudes, motives, and social influences on the purchaser. Buyers tend to behave in certain ways including habits, brand loyalty, and post purchase behavior.

     See also | demand | utility | satisfaction | market | consumer demand theory | decision making process | branding | buyer’s remorse | attitudes | motives | sociocultural factors |


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INELASTIC DEMAND

The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity demanded. Large changes in price cause relatively small changes in quantity demanded or the percentage change in quantity demanded is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of demand. Inelastic demand is one of two general elasticity relations for demand. The other is elastic demand.

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Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for fairy dust that tastes like salt.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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