Final answer:
An example of a qualifying dimension of a customer wishing to purchase a vehicle is their ability to drive. Effective demand requires both the financial means and the qualifications to use a product, like a car. Understanding these dimensions helps businesses and consumers make informed decisions.
Step-by-step explanation:
An example of a qualifying dimension of a customer wishing to purchase a vehicle would be their ability to drive. In the context of demand and purchasing power, if someone cannot pay for a vehicle, they have no effective demand. This concept is similar to the situation where a person without a driver's license effectively has no effective demand for a car as they are not qualified to use it.
Automobile Ownership and Credit are significant considerations for individuals making big life decisions post-graduation. Deciding whether to lease or purchase a new or used vehicle involves evaluating one's ability to meet financial commitments and to actually make use of the vehicle, which includes having a valid driver's license.
Understanding effective demand and qualifying factors is crucial for both consumers considering major purchases and businesses, like car manufacturers, seeking to understand the market. For example, car manufacturers might investigate whether there's a correlation between car size and family size to grasp better the needs and effective demand of their target demographic.