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DEMOGRAPHIC VARIABLES: Characteristics of the aggregate population that marketers use to segment the market, including age, ethnicity, income, education, gender, and race. Other characteristics include occupation, family size, religion, and social class. These characteristics are the link to buyers' wants and needs and affect purchasing behavior. By carefully studying population groups marketers develop marketing mixes that maximize customer activity.
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Lesson 9: Consumer Demand | Unit 1: Demand Theory
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Page: 2 of 22
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Topic:
Making Decisions
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- A decision: I am pondering a trip to the beach to spend my time wading in the water, playing volleyball, and soaking up the sun.
- But this seemingly simple decision involves a number of considerations:
How much time do I want to spend at the beach? An hour? Four hours? All day?Do I really want to go to the beach? Would I rather visit the amusement park instead? Maybe I could do both?How much will this cost? Do I have sufficient income to pay for admission? Do I have sufficient time?
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AGGREGATE SUPPLY DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the long-run aggregate supply curve. A decrease in aggregate supply in the long-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock is a smaller level of full-employment real production.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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HIP
Health Insurance Plan
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