Case study on demand and its determinants for project
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Factors determining demand are :-
1. Price of a product or service is the biggest reason for high or low demand.
According to the Law of Demand:- higher the price, lower the demand and vice-versa.
2. The increase or decrease in net income of a consumer brings change in demand levels.
3. Change in tastes and preferences of a consumer affect demand.
1. Price of a product or service is the biggest reason for high or low demand.
According to the Law of Demand:- higher the price, lower the demand and vice-versa.
2. The increase or decrease in net income of a consumer brings change in demand levels.
3. Change in tastes and preferences of a consumer affect demand.
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