Scribd Logo
Upload

Welcome to Scribd!

  • 24 views

    Factors Affeting Demand: Loyola, Glennson S. Sse 108-Microeconomics

    Uploaded by

    Glennson Loyola
    Factors affecting demand include: 1) Price - As price increases, demand decreases, and vice versa. 2) Price of substitutes and complements - If substitutes become more expensive, demand for the product increases, while complements influence joint consumption. 3) Income - Higher income leads to greater purchasing power and spending. 4) Tastes and preferences - Changing consumer preferences impact demand over time. 5) Expectations - Speculative buying occurs if consumers expect future price increases.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Factors Affeting Demand: Loyola, Glennson S. Sse 108-Microeconomics

    Uploaded by

    Glennson Loyola
    24 views12 pages
    Factors affecting demand include: 1) Price - As price increases, demand decreases, and vice versa. 2) Price of substitutes and complements - If substitutes become more expensive, demand for the product increases, while complements influence joint consumption. 3) Income - Higher income leads to greater purchasing power and spending. 4) Tastes and preferences - Changing consumer preferences impact demand over time. 5) Expectations - Speculative buying occurs if consumers expect future price increases.

    Original Title

    microeco_factors_affecting_demand_GSL_2021

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Factors affecting demand include: 1) Price - As price increases, demand decreases, and vice versa. 2) Price of substitutes and complements - If substitutes become more expensive, demand for the product increases, while complements influence joint consumption. 3) Income - Higher income leads to greater purchasing power and spending. 4) Tastes and preferences - Changing consumer preferences impact demand over time. 5) Expectations - Speculative buying occurs if consumers expect future price increases.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    24 views12 pages

    Factors Affeting Demand: Loyola, Glennson S. Sse 108-Microeconomics

    Uploaded by

    Glennson Loyola
    Factors affecting demand include: 1) Price - As price increases, demand decreases, and vice versa. 2) Price of substitutes and complements - If substitutes become more expensive, demand for the product increases, while complements influence joint consumption. 3) Income - Higher income leads to greater purchasing power and spending. 4) Tastes and preferences - Changing consumer preferences impact demand over time. 5) Expectations - Speculative buying occurs if consumers expect future price increases.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 12

    Factors affeting Demand

    Loyola, Glennson S.

    SSE 108-MICROECONOMICS
    DEMAND

    • The concept ‘demand’ refers to the quality of goods and services that consumers
    are willing and able to purchase during a given period of time.

    • Desire to buy
    • Willingness to pay
    • Ability to pay
    Factors Affecting Demand
    Price of the Product

    Price refers to the quantity of a certain good that a consumer will buy at a certain price. As
    the price goes up, the demand falls down and vice versa.
    The Price of Related Goods/Substitutes.

    Complementary-are goods which are consumed together or simultaneously.


    Substitute-it refers when the price goes up, consumers are force to substitue products.
    Income

    If the income of the consumers increases the more spending power they have.
    The Tastes and Preferences of Consumers

    The demand for a commodity also depends upon the taste and preference of consumers and
    changes in them over a period of time.
    The Consumer's Expectations

    A commodity may be bought due to speculative reasons; if you think it might go up in the future,
    you will buy now.
    The Number of Consumers in the Market

    The number of buyer in a particular maket can also drive demand. When more buyers are in
    the market for a good or service, the demand goes up.
    Other factors that affecting demand

    • Credit facilities. This may encourage consumers to buy e


    xpensive items on credit.
    • Advertising can increase brand loyalty to goods and incr
    ease demand.
    • Quality. Quality products and services can increase the
    drive of demand.
    • Weather/Season.
    Demanding love is not LOVE,
    it is ECONOMICS
    -JD GHAI
    ……

    THANK YOU

    You might also like