Suppose Consumers Expect the Price of a Good to Be

question 99

Short Answer

Suppose consumers expect the price of a good to be higher in the future than it is today. Would the current demand for the good increase or decrease?

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Definitions:

Networking

Engaging in interactions with people to transfer knowledge and establish connections in a professional or social setting.

Call Reluctance

A salesperson's hesitation or fear of initiating contact with potential buyers, often due to fear of rejection or failure.

Prospect Aversion

The tendency of a potential buyer to avoid engagement with sales efforts or marketing materials.

Referral Cycle

The ongoing process of obtaining new customers by referrals from existing ones, creating a continual cycle of expanding business through word-of-mouth.