|
BRAND LOYALTY: A positive attitude toward and preference for purchasing a specific product or service in the market place. It is the desired goal of all businesses to create brand loyalty from members of their target markets. Once brand loyalty has been created it is more difficult to persuade customers to switch to an alternative brand. Some consumers will only purchase Mountain Dew, nothing else will do.
Visit the GLOSS*arama
|
|

|
|
Lesson Contents
|
Unit 1: Buying Basics |
Unit 2: Law of Demand |
Unit 3: Demand Curve |
Unit 4: Determinants |
Unit 5: Scarcity |
|
Market Demand
This lesson on demand offers a little insight, not only into my Stuffed Amigo buying behavior, but into the purchases of a wide range of other goods, too, even goods that aren't cute and cuddly. In fact, this demand topic does more than offer insight into buying behavior. It's also one half of the market analysis -- the other half being supply. And market analysis is one of the most widely used tools in the study of economics. Economists explain a lot of economic phenomenon using markets. But to use markets, we need demand, which brings us back to this lesson. - In the first unit of this lesson, Buying Basics, we examine the basic concept of demand. While you've likely come across the term demand before, we'll see the specific way the term is used in economics.
- The second unit, Law of Demand, then takes a look at the law of demand, which is one of the most important and fundamental economic principles that we'll encounter.
- As we move on to the third unit, Demand Curve, our attention turns to the demand curve, which is the graphical embodiment of demand.
- In the fourth unit, Determinants, we examine how the five basic demand determinants that cause the demand curve to shift from one location to another.
- And finally in the fifth unit, Scarcity, we make a connection between demand and the fundamental problem of scarcity.
|
|
|
AVERAGE REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a perfectly competitive firm's output.
Complete Entry | Visit the WEB*pedia |


|
|
The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
|
|
"always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says: „Here lies Jack Williams. He done his damnedest.¾ I think that is the greatest epitaph a man can have ‚ When he gives everything that is in him to do the job he has before him. That is all you can ask of him and that is what I have tried to do. " -- Harry Truman, 33rd US president
|
|
NOW Negotiable Order of Withdrawal
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|