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Factors Affecting Demand

What Factors affect demand for a product in the market?

Written by Jason Gordon

Updated at March 26th, 2023

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What Factors Affect Demand? 

The following factors often affect the demand for a product:  

  • Taste Shift
  • Change in Population
  • Change in Income
  • Change in Price of Substitute Goods
  • Change in Price of Complementary Goods
  • Future Expectations of Financial Position

A change in any of these factors can cause a shift in demand. The change generally results in the desire or need for a greater or lesser quantity of a good or service at a given price. 

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factors of demand factors affect deman demand

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