Demand: Affordability and willingness of a customer to buy a product or service at a given price are called demand in economics.
Price: Price of a product is inversely proportional to the demand, as the price rises automatically demand the product decreases and price decreases automatically demand of the product increases.
Expectations of price hike: If there is any possibility of a price hike in the future, then present demand increases automatically.
Income: If the income of consumer increases demand also increase as people can consume the number of products or services they want.
Taste, habit and fashion: Consumer's taste, habit and fashion are the key parameters of demand for any goods.
Climate: Climate plays a vital role in demand for certain goods in specific areas.
Complementary goods: Demand of a commodity can be impacted by complimentary goods.
Advertisement: It always attracts people to buy any goods.
Government taxes: Taxes plays a vital role in price, and the price is the key factor of demand for any product.
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