Several factors can influence demand for a product or service:
Price: The cost of the product or service can significantly affect demand. Generally, lower prices attract more consumers. Quality: Higher quality products or services often generate higher demand as they offer better value. Marketing: Effective marketing strategies and promotions can create awareness and increase demand. Economic Conditions: In times of economic prosperity, consumers are more likely to spend, increasing demand. Trends and Preferences: Changes in consumer trends and preferences can shift demand towards certain products or services.