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How does change in fashion affect the demand?
For certain products such as textile products, changes in fashion can bring about large and frequent changes in the demand. Example: when T- shirts are in fashion, the demand for T- shirt will increase. Mostly the demand will be high for those goods which are highly in fashion at that time period.
What are two product changes that affect demand?
. Do changing demands affect production?
How does consumer expectation affect demand for certain goods?
Expectations of future events affect the current demand for a good or service.
What kind of changes would be expected in the demand of a country that has a growing population?
rise in demand for shelter
What kind of changes would be expected in the demand of the country that has a growing population?
A raise in demand for shelter
How does change in fashion affect the demand?
For certain products such as textile products, changes in fashion can bring about large and frequent changes in the demand. Example: when T- shirts are in fashion, the demand for T- shirt will increase. Mostly the demand will be high for those goods which are highly in fashion at that time period.
What are two product changes that affect demand?
. Do changing demands affect production?
How does consumer expectation affect demand for certain goods?
Expectations of future events affect the current demand for a good or service.
How do the changes of demand affect the price?
Higher demand, the higher the price goes. Remove the demand for something and then the price drops.
What kind of changes would be expected in the demand of a country that has a growing population?
rise in demand for shelter
What kind of changes would be expected in the demand of the country that has a growing population?
A raise in demand for shelter
Which factor does not affect the elasticity of demand for a good?
An increase in population
What factor does not affect the elasticity of demand for a good?
Increase in the population.
How do changes in demand differ from changes in quantity demanded?
Changes in demand refer to shifts in the entire demand curve due to factors like consumer preferences, income, or population. Changes in quantity demanded, on the other hand, refer to movements along the demand curve in response to changes in price.
Which demand can become more elastic over time what changes can take place in the long term to affect demand?
Gasoline
How does changes in the population affect the demand curve?
The more people there are the more they will want resources like water, electricity and roads. They will want more things from the shops. they will consume more food.
Is the demand for insulin elastic or inelastic?
The demand for insulin is considered inelastic, meaning that changes in price do not significantly affect the quantity demanded.
