Demand

• Demand is the amount of a product that consumers are willing and able to buy at any given price over a period of time
• Supply is the amount a business is willing to produce at any given price over a period of time
• Factors influencing demand for a business

  • price
  • taste and fashions
  • income levels
  • price of substitute goods
  • price of complimentary products
  • marketing and advertising
  • seasonal factors
  • government actions
• Substitute goods are goods that are close alternatives
• Complimentary products are ones that are used alongside one another e.g. Shampoo and Conditioner