Since corn and wheat can both be used as types or grain, they are in a way interchangeable amongst buyers. These types of goods are called substitute good, one can be substituted for another. If the price of corn rises, that leaves wheat being the more favored product (because it's cheaper). When an increase for the demand for wheat increase, the supply will decrease. The opposite would happen if the price of corn falls. If it falls under the price of wheat, corn will then be more favored. Thus making it the more demanded product. Under the law of demand, supply and demand work in opposite directions. When the demand increases, the supply decreases. When the demand decrease, the supply increases.
=price of goods==level of income==personal taste==personal preferences==size of the population==the government policies==price of goods==level of income==personal taste==personal preferences==size of the population==the government policies=
Factors affecting demand for the supply of wheat
The demand trend for wheat is a grain.
They are factors affecting demand other than
Demand
They are factors affecting demand other than
The income factor affecting income elasticity of demand is weather or not goods are necessities of luxury.
technology level of income
the rise of price of cement
A populations preference for it and it's availability.
There are plenty of factors affecting elasticity of demand including climate of the area. Other factors that effect elasticity of demand include supply and group of people buying.
Location Location Location...then supply and demand.
1.degree of necessity 2.peak and off-peak demand
Factors affecting demand of labor :1) Wage rates fluctuations2) The need of factor input in a firm varies with time3) Increasing training costsFactors affecting supply of labor:1) Competitive labor market2) Working condition3) Inflation
please give me the ans. of factor affecting demand and supply of health