Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Give an example applicable to your economy (Philippines) of the following non-price factor of demand and supply: Demand Income Consumer expectation of future Consumer Preference
Give an example applicable to your economy (Philippines) of the following non-price factor of demand and supply:
Demand
- Income
- Consumer expectation of future
- Consumer Preference
- Price of related goods
- demographic changes
- weather or seasons
Supply
- Changes in costs of factors of production
- State of technology
- Government intervention
- Size of the market
- Future expectations
- Weather/seasonality
- Supply Shock
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started