Induced demand
id:
induced-demand-182-3851182
title:
Induced demand
text:
In economics, induced demand – related to latent demand and generated demand – 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, meaning that the quantity demanded subsequently increases. This is consistent with the economic model of supply and demand. In transportation planning, induced dem
brand slug:
wiki
category slug:
encyclopedia
description:
Phenomenon in which supply increases lead to a cycle of increased consumption
original url:
https://en.wikipedia.org/wiki/Induced_demand
date created:
2003-12-09T14:38:23Z
date modified:
2024-09-06T18:34:43Z
main entity:
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image:
{"content_url":"https://upload.wikimedia.org/wikipedia/commons/7/79/Supply-demand-right-shift-supply.svg","width":217,"height":217}
fields total:
13
integrity:
16