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Frequently Asked Questions - factors affecting demand

FAQs - factors affecting demand

Describe the factors that can affect the demand for a product. [6 marks]

the price of the product
the price of substitute goods/services
the price of complementary goods/services
changes in income
changes in tastes and preferences of consumers
the impact of an advertising campaign.

Please note:

A brief description is required for each point in order to gain full marks. You might lose marks if only points are listed without explanation.

TAGS: demand, factors affecting demand

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