Homework Help: economics

Posted by Jennifer on Sunday, December 17, 2006 at 9:42pm.

how change in "Consumer Taste" and "Change in Expectation" effect upon Supply and Demand in Economic?

In a plenitude of ways. Fashion and other fads come and go, increasing the demand for "hot" products, decreasing for "cold." Producers, in an attempt to make production decisions, try to predict what the future holds with respect to expected demands and expected input costs. If you think about it, Im sure you could come up with examples of how consumer tastes and producer expectations affect supply and demand.

No one has answered this question yet.

Answer this Question

Related Questions

Economics - In a perfect competitive market, industry demand is P = 850 – ...
Managerial Economics - In a perfect competitive market, industry demand is P = ...
Economics - In the Monetary policy transmission mechanism, explain what could go...
Economics - what are a few factors necessary for economic growth related to ...
Economics - Beachfront resorts have inelastic supply, and automobiles have an ...
Economics - Concern about international crisis has caused consumers to save ...
economics - Beach front resorts have an inelastic supply and automobiles have an...
economics - in the simple economics of a competitive market price increases ...
econ - my mind is going blank here..can someone chime in and help: If a new ...
economics - in the simple economics of a competitive market price increase under...

For Further Reading

First Name:
School Subject:
Answer: