Final answer:
An economist would describe a shopper getting a 'good deal' on a product as experiencing 'consumer surplus.'
Step-by-step explanation:
When a consumer is able to purchase goods or services at a discounted rate when new products are introduced or during clearance sales, an economist would likely use the term consumer surplus to describe the situation. This term refers to the benefit that consumers receive when they are able to purchase something for less than the maximum they are willing to pay.
Suppliers, on the one hand, must decide how much to offer for sale, considering the costs of production and the price at which these goods can be sold. Consumers, however, need to assess their own willingness to pay and the potential benefits they might derive in the future, such as the enjoyment of the product, any savings from the discounted price, or the use of the product before its obsolescence.
In the context of financial decisions, the concept of Present Discounted Value is applied when assessing the worthiness of an investment by estimating the current value of future benefits, taking into account potential capital gains and dividends. This reflects the individual's optimism about the product's future utility or the company's future profitability.
This concept is part of a broader assessment of determining the willingness to pay, factoring in production costs for suppliers and future benefits for consumers, such as capital gains and dividends in financial investments.