This document summarizes key concepts related to demand, supply, and market equilibrium from an economics textbook. It discusses the basic decision-making units of firms and households, and how they interact in input and output markets. The document then covers the determinants and properties of demand and supply curves for individual firms and households, and how these aggregate to market demand and supply curves. It concludes by explaining how market equilibrium is reached through the interaction of supply and demand, and how equilibrium prices and quantities change with shifts in either curve.
This document discusses the basic concepts of demand, supply, and market equilibrium. It defines firms as organizations that transform inputs into outputs, and households as the consuming units. It explains the circular flow of economic activity between firms and households in input and output markets. Key concepts covered include determinants of demand and supply, demand and supply curves/schedules, shifts in demand and supply versus movements along the curves, and how market demand and supply are derived from individual households and firms.
This document provides an overview of demand, supply, and market equilibrium. It defines key concepts such as firms, households, demand curves, supply curves, and market equilibrium. The three main points are:
1) Demand curves slope downward and are determined by factors like price, income, tastes. Supply curves slope upward and are determined by production costs and input prices.
2) Market equilibrium exists where quantity demanded equals quantity supplied. Disequilibria like surpluses and shortages cause prices to change until equilibrium is restored.
3) Changes in demand or supply curves result in new market equilibrium prices and quantities traded, depending on whether demand or supply increases or decreases and by how much.
This document discusses key concepts of demand and supply, including:
- The law of demand which states that demand decreases as price increases
- Determinants of demand including income, prices of related goods, and tastes
- How demand curves are derived from demand schedules
- The law of supply which states that supply increases as price increases
- Determinants of supply including costs of production and input prices
- How market equilibrium is reached when quantity demanded equals quantity supplied
This document discusses demand, supply, and market equilibrium. It defines key concepts such as firms, households, demand curves, supply curves, and how equilibrium price and quantity are determined by the interaction of demand and supply. The document also examines factors that shift demand and supply curves, such as changes in income, prices of related goods, and costs of production.
This document provides an overview of demand, supply, and market equilibrium. It defines key concepts such as firms, households, the circular flow of economic activity, and input and output markets. It describes demand and supply schedules and curves, and how quantity demanded and supplied change with price. Key determinants of demand and supply are outlined. The document distinguishes between shifts of demand or supply curves versus movements along the curves. Market demand and equilibrium concepts are also introduced.
This document provides an overview of demand, supply, and market equilibrium. It defines key concepts such as firms, households, demand curves, supply curves, and how equilibrium price and quantity are determined in markets. The document also explains how demand and supply can shift due to changes in their determinants, such as income, input prices, and preferences. It distinguishes between movements along the curves due to price changes versus shifts of the curves from non-price factors.
1) The document discusses the basic concepts of demand, supply, and market equilibrium. It explains that firms transform inputs into outputs in product markets, while households are the consuming units that demand goods and services. 2) Inputs and outputs are exchanged between firms and households in input and output markets through the circular flow of the economy. Money flows in the opposite direction of goods and services. 3) The document outlines the key determinants of demand for households, including price, income, wealth, tastes and preferences. It also discusses the relationship between price and quantity demanded as defined by the Law of Demand.
This document discusses the basic concepts of demand, supply, and market equilibrium. It defines firms as organizations that transform inputs into outputs, and households as the consuming units. It explains the circular flow of economic activity between firms and households in input and output markets. Key concepts covered include determinants of demand and supply, demand and supply curves/schedules, shifts in demand and supply versus movements along the curves, and how market demand and supply are derived from individual households and firms.
This document provides an overview of demand, supply, and market equilibrium. It defines key concepts such as firms, households, demand curves, supply curves, and market equilibrium. The three main points are:
1) Demand curves slope downward and are determined by factors like price, income, tastes. Supply curves slope upward and are determined by production costs and input prices.
2) Market equilibrium exists where quantity demanded equals quantity supplied. Disequilibria like surpluses and shortages cause prices to change until equilibrium is restored.
3) Changes in demand or supply curves result in new market equilibrium prices and quantities traded, depending on whether demand or supply increases or decreases and by how much.
This document discusses key concepts of demand and supply, including:
- The law of demand which states that demand decreases as price increases
- Determinants of demand including income, prices of related goods, and tastes
- How demand curves are derived from demand schedules
- The law of supply which states that supply increases as price increases
- Determinants of supply including costs of production and input prices
- How market equilibrium is reached when quantity demanded equals quantity supplied
This document discusses demand, supply, and market equilibrium. It defines key concepts such as firms, households, demand curves, supply curves, and how equilibrium price and quantity are determined by the interaction of demand and supply. The document also examines factors that shift demand and supply curves, such as changes in income, prices of related goods, and costs of production.
This document provides an overview of demand, supply, and market equilibrium. It defines key concepts such as firms, households, the circular flow of economic activity, and input and output markets. It describes demand and supply schedules and curves, and how quantity demanded and supplied change with price. Key determinants of demand and supply are outlined. The document distinguishes between shifts of demand or supply curves versus movements along the curves. Market demand and equilibrium concepts are also introduced.
This document provides an overview of demand, supply, and market equilibrium. It defines key concepts such as firms, households, demand curves, supply curves, and how equilibrium price and quantity are determined in markets. The document also explains how demand and supply can shift due to changes in their determinants, such as income, input prices, and preferences. It distinguishes between movements along the curves due to price changes versus shifts of the curves from non-price factors.
1) The document discusses the basic concepts of demand, supply, and market equilibrium. It explains that firms transform inputs into outputs in product markets, while households are the consuming units that demand goods and services. 2) Inputs and outputs are exchanged between firms and households in input and output markets through the circular flow of the economy. Money flows in the opposite direction of goods and services. 3) The document outlines the key determinants of demand for households, including price, income, wealth, tastes and preferences. It also discusses the relationship between price and quantity demanded as defined by the Law of Demand.
Ch02The Economic Problem economic and business.pptMawar688080
The document summarizes key concepts from an economics textbook chapter on the economic problem of scarcity and choice. It explains that all economies must answer three basic questions: what to produce, how to produce it, and who will get what is produced. It then discusses different economic systems for solving this problem, including command, laissez-faire, and mixed systems. Under laissez-faire economies, individual firms and consumers working through free markets determine production and distribution.
This document discusses demand and supply from the perspective of firms and households. It defines firms as organizations that transform resources into products, and entrepreneurs as people who organize and manage firms. Households are the consuming units that demand goods and services. The circular flow diagram shows the connections between firms, households, input markets, and output markets. Demand is determined by price, income, wealth, tastes and preferences. The law of demand states that as price increases, quantity demanded decreases. A shift in demand occurs when a determinant of demand other than price changes, causing the demand curve to shift.
This document summarizes key concepts from Chapter 5 of the textbook "Principles of Economics, 6th edition" by Karl Case and Ray Fair. It discusses how households make choices about consumption and labor supply given budget constraints. Households maximize utility subject to their budget. The budget constraint shows the combinations of goods that are affordable given prices and income. Utility is the satisfaction from consumption and marginal utility declines with additional units of a good. Households allocate spending to equalize marginal utility per dollar across goods.
This document summarizes key concepts from Chapter 5 of the textbook "Principles of Economics, 6th edition" by Karl Case and Ray Fair. It discusses how households make choices about consumption and labor supply given budget constraints. Households maximize utility subject to their budget. The budget constraint shows the combinations of goods that are affordable given prices and income. Utility is the satisfaction from consumption and marginal utility declines with additional units of a good. Households allocate spending to equalize marginal utility per dollar across goods.
This document summarizes key concepts from Chapter 5 of the textbook "Principles of Economics, 6th edition" by Karl Case and Ray Fair. It discusses household behavior and consumer choice. Specifically, it covers how households make decisions about demand for goods, labor supply, and savings. It introduces the concepts of budget constraints, opportunity costs, utility, and the utility-maximizing rule for consumers to allocate expenditures between goods in a way that equalizes marginal utility per dollar spent. Diminishing marginal utility and its impact on total utility is also summarized.
The document discusses key economic concepts related to demand and supply. It defines firms, households, and entrepreneurs as the basic decision-making units. It describes the circular flow of economic activity between firms and households through input and output markets. It also outlines the key determinants of household demand and how demand curves are derived from demand schedules to illustrate the inverse relationship between price and quantity demanded.
This document provides an overview of demand, supply, and market equilibrium. It discusses the basic economic units of firms and households and how they interact in markets. Key concepts explained include:
- Demand curves which show the relationship between price and quantity demanded. The law of demand states that demand is negatively related to price.
- Supply curves which show the positive relationship between price and quantity supplied according to the law of supply.
- Market equilibrium is reached at the price where quantity demanded equals quantity supplied. Disequilibria like excess demand and excess supply cause prices to change.
- Shifts in demand or supply curves versus movements along the curves in response to price changes.
This document provides an overview of key concepts regarding household behavior and consumer choice. It discusses how households make decisions about consumption, labor supply, and savings. Households face budget constraints and seek to maximize utility subject to these constraints. The concept of marginal utility and diminishing returns helps explain downward-sloping demand curves. Price changes affect consumption through income and substitution effects. Households supply labor based on weighing wages against the value of leisure. They can also choose to save current income to finance future spending or borrow against future income for current needs.
The document discusses the basic economic decision-making units - firms, entrepreneurs, and households. It describes firms as transforming inputs into outputs, entrepreneurs as organizing and managing firms, and households as the consuming units. It then explains the circular flow of economic activity between firms and households through input and output markets. Households supply resources and demand final goods, while firms demand resources and supply final goods.
The document discusses the price system and elasticity. It explains that the price system performs price rationing and resource allocation functions. Price rationing allocates goods when demand exceeds supply. When supply decreases, price rises to ration the lower quantity among those willing to pay. Alternative rationing mechanisms like price ceilings create excess demand. Price changes from supply and demand shifts determine profits and resource allocation. Elasticity measures the responsiveness of one variable to changes in another. It discusses the determinants and interpretations of price elasticity of demand and other elasticities.
The document discusses supply, supply schedules, and market equilibrium. It defines supply as the quantity of a good a seller is willing to offer for sale. A supply schedule shows the different quantities a seller is willing to supply at various prices, demonstrating a positive relationship between price and quantity supplied. Market equilibrium occurs when quantity demanded equals quantity supplied, where the demand and supply curves intersect and price and quantity are in balance.
This document provides a summary of key concepts related to market demand and supply. It discusses the basic decision-making units in an economy, including firms that produce goods and households that consume them. It then covers the concepts of demand schedules and curves, the law of demand, and how shifts in demand versus movements along a demand curve. Similar concepts are presented for supply schedules and curves as well as the law of supply. The document also discusses how individual demand and supply combine to form market demand and supply and how equilibrium is reached in markets where quantity supplied equals quantity demanded.
This document discusses key concepts related to demand, supply, and market equilibrium. It defines demand and supply curves, and explains how they interact to determine an equilibrium price and quantity in a market. Specifically, it explains that:
- Demand curves slope downward, representing an inverse relationship between price and quantity demanded. Supply curves slope upward, representing a positive relationship between price and quantity supplied.
- Changes in non-price factors like income, tastes, or costs can cause demand and supply curves to shift, changing the equilibrium price and quantity in the market.
- The intersection of supply and demand curves indicates the equilibrium price and quantity where the quantities supplied and demanded are equal.
1. The document discusses the fundamentals of demand and supply, including defining demand with a demand curve, the determinants of demand, and the difference between a shift in demand versus movement along a demand curve.
2. It explains that a demand curve slopes downward due to the law of demand and the law of diminishing marginal utility - as price increases, quantity demanded decreases.
3. The main determinants of demand are price of the good, income, tastes, prices of substitutes and complements, and expectations about future prices and income. A change in a determinant causes the demand curve to shift, while a change in price results in movement along the
This document discusses key concepts of economics including scarcity, choice, opportunity cost, comparative advantage, and specialization. It explains that human wants are unlimited but resources are scarce, so societies must answer basic questions about production, distribution, and consumption. It also introduces the production possibility frontier model and discusses how increasing one type of production requires sacrificing another due to opportunity costs and scarce resources. Specialization and trade can increase total production for all parties according to comparative advantage theory.
1. The document discusses market structures including monopolistic competition and oligopoly. It provides characteristics and examples of each.
2. Monopolistic competition is characterized by many firms producing differentiated products, free entry and exit into the industry, and firms having some limited market power through product differentiation. Examples include restaurants and hand soap.
3. Oligopoly is characterized by a market dominated by a small number of firms. The behavior of each firm depends on the actions of other firms in the industry. Examples of oligopolistic industries include automobiles and aluminum production.
This document provides an overview of demand, supply, and market equilibrium. It defines key economic concepts such as households, firms, demand curves, determinants of demand, the law of demand, and how equilibrium price and quantity are determined through the interaction of supply and demand in a market. It also outlines the factors that influence supply and how shifts in supply or demand curves impact the market equilibrium.
This document provides a summary of key concepts related to demand, supply, and market equilibrium. It discusses firms and households as decision makers, and how they interact in input and output markets through the circular flow. It then explains the laws of demand and supply, how quantity demanded and supplied change with price, and how demand and supply curves are derived from individual decisions in the market. Other determinants of demand and supply are also outlined.
The document discusses the stock market boom of the late 1990s and its impact on the US economy. It finds that the stock market boom between 1995 and 2000 added significantly to economic growth during that period, with estimates that GDP growth was 1.5% higher each year due to the wealth effects of rising stock prices. However, it also led to issues like a lower personal saving rate, a higher trade deficit, and made the economy more vulnerable when the bubble burst in 2001-2002. The document concludes that without the stock boom, the 1990s expansion would not have looked as strong and the 2001 recession may not have occurred.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Ch02The Economic Problem economic and business.pptMawar688080
The document summarizes key concepts from an economics textbook chapter on the economic problem of scarcity and choice. It explains that all economies must answer three basic questions: what to produce, how to produce it, and who will get what is produced. It then discusses different economic systems for solving this problem, including command, laissez-faire, and mixed systems. Under laissez-faire economies, individual firms and consumers working through free markets determine production and distribution.
This document discusses demand and supply from the perspective of firms and households. It defines firms as organizations that transform resources into products, and entrepreneurs as people who organize and manage firms. Households are the consuming units that demand goods and services. The circular flow diagram shows the connections between firms, households, input markets, and output markets. Demand is determined by price, income, wealth, tastes and preferences. The law of demand states that as price increases, quantity demanded decreases. A shift in demand occurs when a determinant of demand other than price changes, causing the demand curve to shift.
This document summarizes key concepts from Chapter 5 of the textbook "Principles of Economics, 6th edition" by Karl Case and Ray Fair. It discusses how households make choices about consumption and labor supply given budget constraints. Households maximize utility subject to their budget. The budget constraint shows the combinations of goods that are affordable given prices and income. Utility is the satisfaction from consumption and marginal utility declines with additional units of a good. Households allocate spending to equalize marginal utility per dollar across goods.
This document summarizes key concepts from Chapter 5 of the textbook "Principles of Economics, 6th edition" by Karl Case and Ray Fair. It discusses how households make choices about consumption and labor supply given budget constraints. Households maximize utility subject to their budget. The budget constraint shows the combinations of goods that are affordable given prices and income. Utility is the satisfaction from consumption and marginal utility declines with additional units of a good. Households allocate spending to equalize marginal utility per dollar across goods.
This document summarizes key concepts from Chapter 5 of the textbook "Principles of Economics, 6th edition" by Karl Case and Ray Fair. It discusses household behavior and consumer choice. Specifically, it covers how households make decisions about demand for goods, labor supply, and savings. It introduces the concepts of budget constraints, opportunity costs, utility, and the utility-maximizing rule for consumers to allocate expenditures between goods in a way that equalizes marginal utility per dollar spent. Diminishing marginal utility and its impact on total utility is also summarized.
The document discusses key economic concepts related to demand and supply. It defines firms, households, and entrepreneurs as the basic decision-making units. It describes the circular flow of economic activity between firms and households through input and output markets. It also outlines the key determinants of household demand and how demand curves are derived from demand schedules to illustrate the inverse relationship between price and quantity demanded.
This document provides an overview of demand, supply, and market equilibrium. It discusses the basic economic units of firms and households and how they interact in markets. Key concepts explained include:
- Demand curves which show the relationship between price and quantity demanded. The law of demand states that demand is negatively related to price.
- Supply curves which show the positive relationship between price and quantity supplied according to the law of supply.
- Market equilibrium is reached at the price where quantity demanded equals quantity supplied. Disequilibria like excess demand and excess supply cause prices to change.
- Shifts in demand or supply curves versus movements along the curves in response to price changes.
This document provides an overview of key concepts regarding household behavior and consumer choice. It discusses how households make decisions about consumption, labor supply, and savings. Households face budget constraints and seek to maximize utility subject to these constraints. The concept of marginal utility and diminishing returns helps explain downward-sloping demand curves. Price changes affect consumption through income and substitution effects. Households supply labor based on weighing wages against the value of leisure. They can also choose to save current income to finance future spending or borrow against future income for current needs.
The document discusses the basic economic decision-making units - firms, entrepreneurs, and households. It describes firms as transforming inputs into outputs, entrepreneurs as organizing and managing firms, and households as the consuming units. It then explains the circular flow of economic activity between firms and households through input and output markets. Households supply resources and demand final goods, while firms demand resources and supply final goods.
The document discusses the price system and elasticity. It explains that the price system performs price rationing and resource allocation functions. Price rationing allocates goods when demand exceeds supply. When supply decreases, price rises to ration the lower quantity among those willing to pay. Alternative rationing mechanisms like price ceilings create excess demand. Price changes from supply and demand shifts determine profits and resource allocation. Elasticity measures the responsiveness of one variable to changes in another. It discusses the determinants and interpretations of price elasticity of demand and other elasticities.
The document discusses supply, supply schedules, and market equilibrium. It defines supply as the quantity of a good a seller is willing to offer for sale. A supply schedule shows the different quantities a seller is willing to supply at various prices, demonstrating a positive relationship between price and quantity supplied. Market equilibrium occurs when quantity demanded equals quantity supplied, where the demand and supply curves intersect and price and quantity are in balance.
This document provides a summary of key concepts related to market demand and supply. It discusses the basic decision-making units in an economy, including firms that produce goods and households that consume them. It then covers the concepts of demand schedules and curves, the law of demand, and how shifts in demand versus movements along a demand curve. Similar concepts are presented for supply schedules and curves as well as the law of supply. The document also discusses how individual demand and supply combine to form market demand and supply and how equilibrium is reached in markets where quantity supplied equals quantity demanded.
This document discusses key concepts related to demand, supply, and market equilibrium. It defines demand and supply curves, and explains how they interact to determine an equilibrium price and quantity in a market. Specifically, it explains that:
- Demand curves slope downward, representing an inverse relationship between price and quantity demanded. Supply curves slope upward, representing a positive relationship between price and quantity supplied.
- Changes in non-price factors like income, tastes, or costs can cause demand and supply curves to shift, changing the equilibrium price and quantity in the market.
- The intersection of supply and demand curves indicates the equilibrium price and quantity where the quantities supplied and demanded are equal.
1. The document discusses the fundamentals of demand and supply, including defining demand with a demand curve, the determinants of demand, and the difference between a shift in demand versus movement along a demand curve.
2. It explains that a demand curve slopes downward due to the law of demand and the law of diminishing marginal utility - as price increases, quantity demanded decreases.
3. The main determinants of demand are price of the good, income, tastes, prices of substitutes and complements, and expectations about future prices and income. A change in a determinant causes the demand curve to shift, while a change in price results in movement along the
This document discusses key concepts of economics including scarcity, choice, opportunity cost, comparative advantage, and specialization. It explains that human wants are unlimited but resources are scarce, so societies must answer basic questions about production, distribution, and consumption. It also introduces the production possibility frontier model and discusses how increasing one type of production requires sacrificing another due to opportunity costs and scarce resources. Specialization and trade can increase total production for all parties according to comparative advantage theory.
1. The document discusses market structures including monopolistic competition and oligopoly. It provides characteristics and examples of each.
2. Monopolistic competition is characterized by many firms producing differentiated products, free entry and exit into the industry, and firms having some limited market power through product differentiation. Examples include restaurants and hand soap.
3. Oligopoly is characterized by a market dominated by a small number of firms. The behavior of each firm depends on the actions of other firms in the industry. Examples of oligopolistic industries include automobiles and aluminum production.
This document provides an overview of demand, supply, and market equilibrium. It defines key economic concepts such as households, firms, demand curves, determinants of demand, the law of demand, and how equilibrium price and quantity are determined through the interaction of supply and demand in a market. It also outlines the factors that influence supply and how shifts in supply or demand curves impact the market equilibrium.
This document provides a summary of key concepts related to demand, supply, and market equilibrium. It discusses firms and households as decision makers, and how they interact in input and output markets through the circular flow. It then explains the laws of demand and supply, how quantity demanded and supplied change with price, and how demand and supply curves are derived from individual decisions in the market. Other determinants of demand and supply are also outlined.
The document discusses the stock market boom of the late 1990s and its impact on the US economy. It finds that the stock market boom between 1995 and 2000 added significantly to economic growth during that period, with estimates that GDP growth was 1.5% higher each year due to the wealth effects of rising stock prices. However, it also led to issues like a lower personal saving rate, a higher trade deficit, and made the economy more vulnerable when the bubble burst in 2001-2002. The document concludes that without the stock boom, the 1990s expansion would not have looked as strong and the 2001 recession may not have occurred.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
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Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
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