Topic 2 - Identifying a business opportunity Business studies Unit 1 2.0 / 5 based on 2 ratings ? Business StudiesAS Created by: Stuart KightleyCreated on: 01-04-12 14:08 Supply and Demand Factors of demand: income Govenment legistlations Advertising and Marketing Weather, seasons and occasions (e.g. Christmas) Fashion Change Competition Factors of Supply: Weather Cost of raw materials Labour cost Civil wars, strikes, natural disasters and political / economical polices Govenment legistlation Natural resources Tax Demand depends on disposable income and willingness to buy 1 of 5 Demand Graphs 2 of 5 Supply Graphs 3 of 5 Supply and Demand Graphs 4 of 5 Supply and Demand The demand graph shows that as demand goes up, the cost goes down The supply graph shows the if supply is more its value will be less and that is supply is less its value will be more The supply and demand graph shows that an equilibrium can be achieved by having the right demand to the right supply 5 of 5
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