Economic Concepts and Consumer Behavior

Consumer's desire and willingness to pay (correct)

Consumer's credit and loans

Consumer's savings and investments

Consumer's income and expenses

The demand for that good or service typically increases

The supply of that good or service decreases dramatically

The willingness to pay for that good or service usually decreases (correct)

The consumer's ability to purchase that good or service is unaffected

Inversely proportional for most goods (correct)

Inversely related for essential goods

Directly related for luxury items only

Directly proportional across all goods

<p>The weather conditions on the purchase day</p> Signup and view all the answers

<p>Consumers tend to buy less as prices increase</p> Signup and view all the answers