Answer to Question #187076 in Economics for Hina Kayani

Question

Products’ Demand Estimation – Case Study

As a case study, select data about price, prices of substitutes, advertisement and trends and quantity demanded of any product such as Soft Drink (Pepsi), Fast food (Pizza Line), Cellular Services (Mobilink) etc. for  “Demand Estimation" delving into the factors affecting the Products’ consumption and the ways to enhance its sales. It likewise looks into the factors positively or negatively affecting demand and sales.

Answer 1

The factors positively or negatively affecting demand and sales include:

• Price of the Product.
• The Consumer's Income.
• The Price of Related Goods.
• The Tastes and Preferences of Consumers.
• The Consumer's Expectations.
• The Number of Consumers in the Market.