0
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.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What are the limitations of the demand forecasting models?
the limitations of the demand forecasting include the following: change in fashion consumers Psychology uneconomical lack of experts lack of past data
What are the factors affecting Demand and supply of goods?
price is the main factor which affect demand and supply and other factors which affect demand and supply are change in income weather change living standard of people alternative things superior to inferior
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
How can supply and demand can affect jobs stability and income?
They can change the amount of income you earn!
What is perfect elastic of demand?
A good's demand is considered perfectly inelastic when that good's demand does not change, no matter the price set. No matter how big or small the price change is. I would pay any price for air.
What are the limitations of the demand forecasting models?
the limitations of the demand forecasting include the following: change in fashion consumers Psychology uneconomical lack of experts lack of past data
What are the factors affecting Demand and supply of goods?
price is the main factor which affect demand and supply and other factors which affect demand and supply are change in income weather change living standard of people alternative things superior to inferior
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
How can supply and demand can affect jobs stability and income?
They can change the amount of income you earn!
How high is the demand for fashion designers?
The demand for fashion desgines will remain high because consumers look for the latest trends and apparels.
What is perfect elastic of demand?
A good's demand is considered perfectly inelastic when that good's demand does not change, no matter the price set. No matter how big or small the price change is. I would pay any price for air.
How the increase in expansion affect the demand?
Increase in expansion affect the demand because more supply/expansion with constant demand will lead to excess in expansion which affect the demand.
Why do heating oil prices change so frequently?
Oil prices change frequently for a number of different reasons. Crude oil is a big part of this, and will affect the price of oil. Demand can be different depending on the weather and economy. Seasons can also affect the demand for oil.
Demand side and supply side shocks?
Supply shocks are unexpected events that suddenly change commodity or service prices. A demand side shocks affect demand in one or more countries and may include an unexpected change in interest rates. Supply side shocks affect prices and costs in countries and can include a construction or capital investment boom.
How does a change in price on a linear demand curve affect total revenue?
on the linear demand curve, demand is elastic at price above the point of unitary elasticity so a price increase will decrease the total revenue.
Distinguish between a movement along a given demand curve and a change in demandprovide an example for each?
The change in the demand of a commodity due to change in its price leads to moving the demand curve upward or downward depending upon the change in price. When the price rises, the demand falls. And when the price falls the demand for that commodity rises leading to movement in the demand curve. Shift in the demand curve is the result of the price remaining constant but the demand changing due to several other factors such as, change in fashion, population, etc. Hence at the same price when more is demanded the demand curve shifts to the right. and at the same price when less commodity is demanded it results in the shift of the demand curve to the left.
How does an increase in a products price affect demand for the demand for the product's complements?
It can affect demand because of individual low income earner.
