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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.
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.
Getty Images April is Financial Literacy Month, and our goal is to help you raise your money IQ. In this series, we'll tackle key economic concepts -- ones that affect your everyday finances and ...
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 ...
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
Induced demand is when an increase in quantity causes a shift in the demand curve. Latent demand is consumers already in the demand curve; when supply shifts, we move down the demand curve, increasing quantity demanded. So the graph is showing latent demand, not induced demand. Ulaniantho 18:36, 6 September 2024 (UTC)
Zoom had seen rapid growth in users and subscribers during the pandemic-induced lockdowns, but doubts have been raised over the sustainability of the current demand for video conferencing. In ...