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vfiekz [6]
4 years ago
9

On what does consumer’s willingness to pay depends?

Social Studies
2 answers:
DedPeter [7]4 years ago
8 0

The correct answer to this open question is the following.

Consumer’s willingness to pay depends on "their disposal income and prices of related goods."

A product can be very attractive, or the consumer really wishes to buy a product or service, but if the consumer does not have the money to do so. It will not buy it. Consumers take into consideration the money they have after they have covered their necessities such as food, health, insurances, and so on. The products they are going to buy are the ones they can afford. If they want something else, they have to check their disposal money and if the price is fair to buy the product.

Rainbow [258]4 years ago
6 0
This is demand.  A consumer will not be willing to pay a price without a demand.
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