Factors affecting demand
- Created by: Mespinosa
- Created on: 29-11-17 10:02
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- Factors affecting Demand
- Complements
- If people in the uk buy fish chances are they will buy chips as well.
- Subsitutes
- If the price of jelly goes up people are likely to want jam instead as it is cheaper.
- Advertising
- Advertising affects demand because if people see an advert there is a chance they will want to buy it
- Government Policies
- If the government bans a certain good people will not demand that good
- State of The Economy
- If the economy is in a state of recession people will demand different things than if there was a surplus
- Weather
- In summer people are more likely to demand ice cream, in winter they are more likely to demand snow boots
- Price
- If the price of something is lower people will want it as it is cheap.
- Habits, Fashion and tastes
- Income Levels
- If people have a lower income they are more likely to demand basic needs.
- Complements
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