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In economics, induced demand – related to latent demand and generated demand [1] – is the phenomenon whereby an increase in supply results in a decline in price and an increase in consumption. In other words, as a good or service becomes more readily available and mass produced, its price goes down and consumers are more likely to buy it ...
Another factor that contributes to demand is the educational nature of our health facilities. Some facilities, for example, perform duplicate CT scans or angiographies for students to see. One of the reasons of induced demand is a flawed health-care tax structure. A progressive tax can aid in the prevention of induced demand.
Induced demand; Marchetti's constant, a corollary of which is that decreasing congestion may increase the distance people are willing to commute and so increase the traffic burden; Lewis–Mogridge position; Jevons paradox, an increase in efficiency tends to increase (rather than decrease) the rate of consumption of that resource
This generalization has come to resemble what some economists regard as the law of demand – namely, the lower the price of a service or commodity, the greater the quantity demanded. This is also referred to as induced demand.
Demand represents the amount of that thing that consumers want to buy. When more people want it and fewer people have it, the price goes up. When fewer people want it or more people start selling ...
Americans who plan to take long road trips during the remainder of the summer will be pumped up to hear that prices at the pump keep going down -- especially in Southern and Midwestern states. See ...
The S&P 500 could retest its June low in the week ahead as equity markets endure a brutal bout of selling spurred by fears the Federal Reserve’s inflation fight may cause a recession.
Scarcity falls into three distinctive categories: demand-induced, supply-induced, and structural. [21] Demand-induced scarcity happens when the demand of the resource increases and the supply stays the same. [21] Supply-induced scarcity happens when a supply is very low in comparison to the demand. [21]