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.

JG
Answered by Joel G. Economics tutor

7886 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What is the main government objectives to maximize economic growth?


Should skilled workers be paid more than unskilled workers? (8 marks)


What does consumer surplus mean?


What's the connection between the PPC and the AD/AS model?


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning