Income, consumer expectations, population, consumer tastes, complements, and substitutes can all affect a particular aspect of the market. Which part of the market do they influence?A) Supply B) Demand C) Law of Supply D) Law of Demand
Social Studies · Middle School · Wed Jan 13 2021
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Income, consumer expectations, population, consumer tastes, complements, and substitutes primarily influence B) Demand in the market.
- These factors affect the level of demand for a product or service. For instance, changes in income levels can impact the purchasing power of consumers, altering their demand for various goods. Consumer expectations, population size, and shifts in tastes or preferences can also significantly impact the demand for specific products or services. Additionally, the availability of complements and substitutes can influence the demand for a particular item or service in the market.