Examlex
What do marketers know about the demographic variables of age, household composition, and stage in the life cycle?
Consumer Surplus
The gap between the sum consumers are ready and able to spend on a good or service and what they really pay for it.
Normal Goods
Goods for which demand increases as consumer income rises.
Decrease in Income
A reduction in the amount of money received by an individual or entity, typically measured over a particular period of time.
Market Quantity Supplied
The total amount of a specific good or service that is available to consumers in a market at a given price and time.
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