James Edward Meade
Abstract
In the last chapter we gave an account of the way in which a single consumer, Mrs A, may react to a change in her income or in the market conditions in which she has to make her purchases. In this chapter we intend to apply the analysis of the last chapter to the total market for consumption goods constituted by the whole body of competing consumers.
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In the last chapter we gave an account of the way in which a single consumer, Mrs A, may react to a change in her income or in the market conditions in which she has to make her purchases. In this chapter we intend to apply the analysis of the last chapter to the total market for consumption goods constituted by the whole body of competing consumers.
Key concepts: Consumption (sociology), Economics, Commerce, Business, Art, Aesthetics