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  • About the Economic Futures Hub
  • Unit 1: Economics of the Market
  • Unit 2: UK Economic Activity
  • Unit 3: Global Economic Activity
  • Data for Applied Economists
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Created by Economic Futures. We are hosted by the FAI. Contact us at economicfutures@strath.ac.uk for feedback or collaboration.

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Consumer Demand

Flashcard Definition

Consumer demand is the desire or willingness of consumers to buy goods or services. It represents the amount of a product or service that consumers are ready to purchase in the market.

Block Type
Flashcard
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Consumer Demand is an extremely important factor in the economy, and can determine the success of businesses, as well as guiding fiscal and monetary policy.
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The Covid-19 pandemic is one key recent example of an event which has had a significant impact on consumer demand and spending due to the unprecedented introduction of lockdown measures. If you want to learn more about the impact of lockdown measures during the Covid-19 pandemic on consumer demand in various industries, the Office for National Statistics has useful publications:
Coronavirus (COVID-19) and its effects on household consumption, UK - Office for National Statistics

Coronavirus and its impact on UK household expenditure, including analysis of credit card data for December 2021.

www.ons.gov.uk