Consumer behaviour
What Consumer behaviour means in Economics GCSE, as defined for AQA.
Definitions of Consumer behaviour
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Reference: AQA
Higher interest rates typically reduce consumer spending, while lower interest rates encourage consumers to spend more.
Reflected in the inverse relationship shown by the demand curve, along with willingness to pay.
Topics that use Consumer behaviour
- Demand for goods and services (AQA GCSE)
- Introduction to the national economy (AQA GCSE)
Related terms
- Consumer income and preferences
- Decrease in demand
- Demand
- Demand curve
- Fiscal policy
- Goods and services
- Non-price determinants
- Normal and inferior goods
Using Consumer behaviour in the exam
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