What are the two things consumers can do with income?

Q: 3-4. What is the difference between a consumer’s disposable and discretionary income?

A: Disposable Income : The disposable income is the measure of cash you have left over after you've…

Q: The part of income which is not consumed is called ________

A: Savings is the left over amount from.the income which is not CONSUMED.

Q: What does the point on a budget line indicate in terms of prices?

A: # A budget line of the consume represents the price of the two goods and the budget of the income of…

Q: How would universal basic income affect consumer optimum?

A: Universal basic income is a scheme to provide a specific sum of money to all the citizens of a…

Q: What is the budget constrain and what does it show us?

A: A rational consumer purchases that much quantity of two commodities which are under his/her budget…

Q: Meaning of utility

A: It is a service that is offered to the general population, such as water, gas, or electricity.

Q: What are the types of utility

A: Utility refers to the total satisfaction that is derived from consuming a good or a service. Utility…

Q: Would you call your refrigerator a comfort or a necessity?

A: Necessity commodities are those products and services that customers can purchase regardless of…

Q: What is goods

A: In economics, there are two types are items sold in the market: goods and services. Both these items…

Q: What are the principles of Consumption in Muslim Consumer Behaviour?

A: Principles of Consumption in Muslim Consumer Behaviour are discussed below.

Q: What is the matching concept?

A: The matching concept is an accounting practice whereby companies acknowledge revenue and related…

Q: What is a budget line

A: Purchasing behavior is the decisions of consumers taken to purchase a particular type of product or…

Q: what is affordance and visibility?

A: Affordance: A feature of an object is to give the user a hint as to how to utilize it, what…

Q: How would you define consumer behavior?

A: Consumer behaviour is very important for any firm to determine what goods and services need to…

Q: What is consumer behavior and why is it important?

A: Consumer behavior is an important microeconomics concept.

Q: a. the impact of a change in consumer income on the purchase of luxury automobiles

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: What are the factors which determine the choice that a person makes between buying a Honda Accord or…

A: The demand for the commodity is directly related to the income or purchasing power of the consumer.…

Q: List and explain the three (3) types of consumer expenditures and give an example of each.

A:

Q: When a consumer is below the budget line, what does it mean?

A: According to the given question A budget line is gradually a line which have other name that is the…

Q: What is a extrapolation

A: In economics there are several economic activities and events that cater to the different analyses…

Q: Do you think that you could consume less by refusingto buy some of the things you regularly buy? If…

A: Consumption refers to the process by which people spend their income on the purchase of goods and…

Q: What inferior goods that people buy?

A: Demand for inferior products is often determined by client behavior. Inferior smart refers to…

Q: What is Buying behavior?

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: If you buy less clothing because the price of clothing at your favorite store has gone up, what are…

A: Consumption of products and services in the economy by consumers is referred to as demand. Demand,…

Q: What is consumer srplus

A: Consumer surplus is the difference between a consumer's willingness price and the price he/she…

Q: what is a normal good?

A: Goods refers to the goods which are purchased by the consumer to satisfy their wants. Inferior goods…

Q: How do you determine a budget for personal consumption?

A: A monthly budget is a structured financial planning tool that assists you in determining how much…

Q: I can't take another bite relate to utility

A: Utility is the level of satisfaction that a person gets by consumption of a good.

Q: What is Ceteris Paribus?

A: The subject economics is based on the market mechanism being the central element depends on the two…

Q: a) Fill in the missing numbers b) If income is 24, what is the utility maximizing combination? c) If…

A: Note- Since you have posted a question with multiple subparts, we will solve the first three…

Q: Read the article. How important are cellphones in our lives right now? Do you ever see them becoming…

A: The advancement in technology has taken over every individual's life in today's era. Mobile phones…

Q: change in disposable income that is consumed 1

A: Correct option is (D).

Q: How does household made choices based on budget or their utility satisfaction? Justfiy

A: The first method is that, the households want to minimize their budget, subject to a specific level…

Q: How do we predict future utility?

A: Utility Concept In economics, utility refers to the complete satisfaction derived from the…

Q: Diffrentiate between Substitute goods and complementary goods.  I need 4 differences, Thanks

A: # Based on the usage and how the demand of goods change in response to change in price of the other…

Q: How a price change affects consumer optimum?

A: In consumer's equilibrium, consumer optimum means getting a maximum level of satisfaction after…

Q: Why do people buy more goods and services when their budget increases?

A: People's budget can be increased by two ways.  First, when their income increases, second when the…

Q: "Clothes make the man.” a. What do clothes and grooming tell about a person? b. Can a person judge…

A: Clothes are considered as the prime presenter of a person's personality. Clothes reveals a lot about…

Q: Summarize in a table or diagram classifying the following items: normal, inferior, luxury,…

A: The items which tend to provide utility and also helps in the satisfaction of human wants are known…

Q: What happens to the utility we get from each additional unit we consumed?

A: Utility refers to the want satisfying capacity of the individuals that includes the consumers those…