List the factors that determine the demand for a product (service).
October 26, 2020 | Education|
Demand is the need for a particular product, service, provided by the buyer’s funds. The main factor that determines the amount of demand is price.
The amount of demand is inversely related to the change in the price per unit of goods. The higher the price, the less demand and vice versa.
Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.