Rising =(EOC) higher wages, cost to business due to gov inc national minimum wage
Incomes: earnings of consumers will directly influence spending power, incomes rising leads to rise in demand= consumers have higher incomes
Interest rates: cost of borrowing/reward for saving, (EOC) rates will affect cost of borrowing, if inc so does interest section of repayments on bank loans/overdrafts, inc fixed costs of business, suppliers try to pass own higher costs in form of higher prices inc costs (EOD) IR inc= encourages consumers to save/not spend, fall= opp effect. High IRs lead to fall in demand, esp items spent on credit & luxury goods where consumers use savings to purchase.
Demographic Factors: statistical characteristics of population (EOC) rising net migration= inc workforce size in UK, dec avg wage costs & costs of production
Changes in Migration: size,age of population had inc costs to public sector e.g. health care & education (EOD) migration= inc in demand for wide range of goods/services e.g. housing, public transport & healthcare, also infl types of products demanded e.g. different demands from ageing population, diverse nation
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