ECON factors affecting Supply & Demand

of 14
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Related Documents
  FACTORS  AFFECTING SUPPLY  AND DEMAND  F CTORS FFECTING DEM ND  PRICE ã Demand of a product is negatively related to its price  –  as price increases, demand decreases. ã Products have different price sensitivity (the degree to which the price of a product affects consumers’ purchasing behaviors). ã A change in price does not result to a shift in demand, rather it causes the demand to move along the demand curve only. Rest of the factors on the other hand influences demand to shift either to left or right.  CONSUMER WEALTH AND INCOME ã Income. The sum of a household’s wages, salaries, profits, interests payments, rents, and other forms of earnings in a given period of time. It is a flow of measure. ã  Wealth. The total value of what a household owns minus what it owes. It is a stock measure. ã Consumers with higher income and accumulated savings can afford to buy more goods and services
Related Search
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks

We need your sign to support Project to invent "SMART AND CONTROLLABLE REFLECTIVE BALLOONS" to cover the Sun and Save Our Earth.

More details...

Sign Now!

We are very appreciated for your Prompt Action!