Factors that influence the demand for a particular good or service.
- Own price of the commodity
- Price of related goods ie substitutes and complements
- Income levels of consumers
- Tastes, fashions and preferences
- Weather conditions eg demand for umbrellas and gumboots increases during the rainy season.
- Government policy.
- Expected changes in price of goods.
Visited 27 times, 1 visit(s) today
Share this: