MYTUTOR SUBJECT ANSWERS

82 views

Explain the factors which determine the level of demand for a good or service

To answer this questions I would reccomend learning the following acronym WISPER CAT

The factors which affect the level of demand are:

Weather

Income

Substitute goods price

Population

Expectations of future prices

Rates - interest

Complimenaty good prices

Advertising

Trends and fashion

If any of the factors above are changed then the level of demand will be affected.

Joel G. GCSE Maths tutor, A Level Maths tutor, GCSE Economics tutor, ...

3 months ago

Answered by Joel, a GCSE Economics tutor with MyTutor

Still stuck? Get one-to-one help from a personally interviewed subject specialist

55 SUBJECT SPECIALISTS

£20 /hr

Liam B.

Degree: Mathematics & Economics (Joint Honours) (Bachelors) - Durham University

Subjects offered: Economics, Science+ 3 more

Economics
Science
Physics
Maths
-Personal Statements-

“About Me: I am currently an undergraduate student studying Mathematics & Economics at Durham University. I have always found myself enjoying Maths during my time learning, and I hope to be able to share this joy with yourself by ensuri...”

£18 /hr

Munroop P.

Degree: Economics (Bachelors) - Warwick University

Subjects offered: Economics, Spanish+ 1 more

Economics
Spanish
Maths

“I am an Economics student at Warwick University. I am passionate about Economics but I also love Maths and Spanish, and so I am thrilled to be able to take Maths and Spanish modules within my Economics degree course.  I have experienc...”

£18 /hr

Jay L.

Degree: Mathematics, Operational Research, Statistics and Economics (MORSE) (Bachelors) - Warwick University

Subjects offered: Economics, Maths+ 4 more

Economics
Maths
Further Mathematics
Chemistry
Art
-Personal Statements-

“Hi! I am currently a fresher at the University of Warwick, studying Maths, Operational Research, Statistics and Economics, or MORSE. I have always enjoyed the challenge of maths and would really like to help you experience joy and sa...”

About the author

£22 /hr

Joel G.

Degree: Economics with a year in industry (Bachelors) - Liverpool University

Subjects offered: Economics, Maths+ 1 more

Economics
Maths
Geography

“I am an economics student at the University of Liverpool. I am really interested in economics and mathematics and I would love to share this intererest with yourselves. I I have taught children from year 7 to year 11 how to debate thr...”

You may also like...

Other GCSE Economics questions

What factors cause the shifts and movements of the demand curve?

What is an easy way to remember the effects of the exchange rate on imports and exports?

Explain two benefits to the government that falling unemployment provides.

Describe how tariff could reduce imports.

View GCSE Economics tutors

Cookies:

We use cookies to improve our service. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok