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UNDIFFERENTIATED: A targeting strategy that is based on a homogeneous market. This is one where the total market has similar needs for the product. Typically, this market only requires one marketing mix to satisfy all persons.

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Lesson 8: Market Shocks | Unit 4: Double Shifts Page: 13 of 20

Topic: More Demand and More Supply <=PAGE BACK | PAGE NEXT=>

Market equilibrium is disrupted if both the demand (higher income) and supply (technological breakthrough) curves shift.
  • An increase in demand creates a shortage. Price and quantity tend to increase.
  • An increase supply creates a surplus. Price declines and quantity increases.
  • The combined effect is an obvious increase in quantity but a questionable change in price.
  • At the new equilibrium the price is indeterminant.
  • If demand shifts relatively more than supply, price is higher.
  • If demand shifts relatively less than supply, price is lower.

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GOVERNMENT PURCHASES DETERMINANTS

Ceteris paribus factors, other than aggregate income or production, that are held constant when the government purchases line is constructed and which cause the government purchases line to shift when they change. Some of the more important government purchases determinants are fiscal policy and politics.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for attractive cable television service repair people.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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