Business, 23.06.2019 08:00 tracijp

If consumers start to believe they need a product, what is likely to happen? a. the demand becomes less elastic. b. the demand becomes more elastic. c. the supply decreases. d. the price decreases.

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Answer from: gabrielaperezcz

The answer is A. The demand becomes less elastic.

Answer from: helpmeplzz27

The correct answer is A. The demand becomes less elastic.

Explanation:

In economics and related fields, the decisions of consumers had a great impact on other factors including the demand and supply. In the case of demand (willingness to purchase a product), if consumers start to believe they need a product it is likely more consumers will buy the product even if there are changes in its price. As a result of this, the demand would become less elastic; this means the demand would not change according to price changes but will be mainly stable.

An example of this is electricity because in the last decades most consumers have started to believe this is a basic service or product, and therefore they pay for it even if the price increases, which makes the demand less elastic. This does not occur with expensive cars or other items that are not seen as necessary.

Answer from: Quest

answer; /// i believe the correct answers are (b) change in population and (e) future expectation of check first, good luck

Answer from: Quest

In the 10th grade, i was teamed up in a group of four. our project was on modern history. altho it seemed super hard for many of us. patrick fleming took charge and showed us the understanding of this project. his leadership showed great ethics and it taught me, personally, how to others understand, not just to show them, but explain it thoroughly. and altho he was a great teacher i would have changed a few things. one being his attitude. many times he would get frustrated and impatient with the group. i think a leader i would have done exactly what he did but with much more patience and be there more to explain. such as lunch learning. and giving everybody a chance to try to explain it in their head.

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If consumers start to believe they need a product, what is likely to happen? a. the demand becomes...

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