Demand –part i
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Demand is defined by economists as the relationship between price and the quantity consumers are willing and able to buy at that price when other factors remain unchanged. Retailers and manufacturers are interested in understanding consumer demand and behavior because they want to produce popular products that consumers will purchase. Some of the top manufacturers in the US market are GE and Ford.
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Demand –part i
- 1. Demand –Part I Created by Ms. Snyder
- 2. Introduction Consumers buy products every day in various markets. Retailers and manufactures are interested in consumer behavior because they want to produce products that will be popular with consumers. (What’s a retailer? What is a manufactures?)
- 3. Retailers
- 4. Manufactures
- 5. Top Manufactures GE FORD
- 6. Consumer Behaviors & Demand Economists define demand as the relationship between various prices and the quantity (how many) consumers are willing and able to buy during some time period, holding all other factors constant (unchanged). So what’s the relationship?