MYTUTOR SUBJECT ANSWERS

395 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, ...

10 months ago

Answered by Joel, a GCSE Economics tutor with MyTutor


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

68 SUBJECT SPECIALISTS

£20 /hr

Xenia K.

Degree: Law (Bachelors) - Durham University

Subjects offered:Economics, English Literature+ 2 more

Economics
English Literature
-Personal Statements-

“Hello :) My name is Xenia and I'm a law student at Durham University. Though I absolutely love my course I'll always have a soft spot in my heart for Economics and Literature and can't wait to share that love with you.  My teaching ph...”

£18 /hr

Diveena N.

Degree: Economics (Bachelors) - Warwick University

Subjects offered:Economics, Physics+ 1 more

Economics
Physics
Maths

“BSc Economics student at the University of Warwick keen to tutor for Economics (IB and A level), Maths (IB, A level, GCSE and KS3) and Physics (GCSE).”

MyTutor guarantee

£20 /hr

Zhiqi (Amy) S.

Degree: Economics (Bachelors) - LSE University

Subjects offered:Economics, Science+ 4 more

Economics
Science
Maths
Mandarin
Chemistry
-Personal Statements-

“Hello parents & students! I am a second year Economics student at the LSE and firmly believe that the pursuit of education requires hard work and effort.”

MyTutor guarantee

About the author

£30 /hr

Joel G.

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

Subjects offered:Economics, Geography

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

Evaluate the view that perfect competition is a more efficient market structure than monopoly.

Explain how a fall in interest rates can affect total spending in the economy.

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

View GCSE Economics tutors

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

mtw:mercury1:status:ok