Author : Johnny Ch Lok
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.5/5 (638 download)
Book Synopsis Demand and Supply Theory Predicts by : Johnny Ch Lok
Download or read book Demand and Supply Theory Predicts written by Johnny Ch Lok and published by . This book was released on 2020-11-12 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can apply demand and supply theory raises basic stable income consumer consumption desireEconomists aim to develop models of human behavior and interactions in consumption markets. But consumers behave in complex ways, such as how to predict consumers to make rational decisions in consumption processes. Moreover, self-consumption control and motivation can vary significantly across different individual consumer.In order to build useful consumption prediction models, economists make simplifying assumptions, aims to predict how to raise stable basic income consumer target group consumption more success. However, behavioral economy method is one kind of accurate consumption prediction method. It can be applied to predict economic decision-making to every consumer consumption choice more accurate raising whose consumption desire?I shall indicate how to apply different behavioral economy methods ( demand and supply theory) to raise stable basic stable income target consumer group consumption desire in these different consumption situation ( consumption environment) aspects as below:1.Stable basic stable income consumer group consumption great or small amount desireThe consumption of products and services is a fundamental part of consumer's welfare. Basically, every one who has stable basic stable income, who will like to consume any products and services. Even, consumption great or small amount desire won't be depended on whether the person whose income is more or less. It means low income level of people will still like to consume great amount to buy expensive products or consume expensive services, because consumption is human's part of life and basic needs. This stable basic income people will like to consume, because they have stable income source when they do not worry about unemployment occurrence to cause them have no enough money to support their life. Otherwise, non-stable basic stable income people won't like to consume because they feel they have no stable basic income source to support their life and they will worry about unemployment occurrence any time. Hence, stable basic income people will have more consumption desire to compare non-stable basic stable income people in any countries usually. Behavioral economic method indicates they feel their economic benefits will be loss if they planned to buy any products or consume any services easily. So, they prefer to save money in bank more than consumption.Prediction traveller individual tourism entertainment package choice from psychology view and computer statistic view. How to predict travel consumption? It is one question to any travel agents concern to use what methods which can predict how many numbers of travelers where who will choose to go to travel more accurately. I think that who can consider how to predict travel behavioral consumption from psychology view and computer science view both.On the psychology view, It has evidence to support the relationship between self-identify threat and resistance to change travel behavior to any travelers, controlling for whose past travelling behavior, resistance to change if a psychological phenomenon of long standing interest in many applied branches of psychology. Past travelling behavior has been acknowledged as a predictor of future action. Such as travelling behavior that is experienced as successful is likely to be repeated and may lead to habitual patterns. Some psychologists differentiate habit between two concepts, such as goal oriented and automatic oriented both. Although repeated past travelling behavior is addition goal oriented and automatic oriented. Further non-deliberative nature of habit may make appeals to judge and to predict future individual traveler's behaviour accrately. However, repeated travelling behavior without a necessary constraint of goal orientation and automatic oriented both.