Show
Market factors affecting demand of consumer goodsThe demand for a good increases or decreases depending on several factors. This includes the product’s price, perceived quality, advertising spend, consumer income, consumer confidence, and changes in taste and fashion. Understanding the many varied elements and the small CPG landscape that affects product demand is hugely beneficial. Fortunately, we’ve compiled a list of the top seven factors affecting demand for you. Select each factor below for a detailed breakdown.
Which of the following factors does not affect the price elasticity of demand?c. the cost of producing the product will not affect the elasticity of demand for a product.
What are the factors that influence price elasticity of demand?The four factors that affect price elasticity of demand are (1) availability of substitutes, (2) if the good is a luxury or a necessity, (3) the proportion of income spent on the good, and (4) how much time has elapsed since the time the price changed.
Which of the following factor is not influencing the demand?The price of the product does not lead to a shift in the demand curve. Income is not the only factor that causes a shift in demand. The other things that change demand include tastes and preferences, the composition or size of the population, the prices of related goods, and even expectations.
What are the 5 factors that determine elasticity?The Price Elasticity of Demand is affected by many factors. 5 crucial factors among them are: Availability of goods, Price Levels, Income Levels, Time Period, and Nature of goods.
|