Question

In three to four sentences, explain some of the factors that

cause changes in demand and why it is important for
consumers to understand these changes.

Answer 1

6 Important Factors That Influence the Demand of Goods

1. Tastes and Preferences of the Consumers: ADVERTISEMENTS: ...

2. Income of the People: ...

3. Changes in Prices of the Related Goods: ...

4. Advertisement Expenditure: ...

5. The Number of Consumers in the Market: ...

6. Consumers' Expectations about Future Prices: