Nowadays, Apple has
revolutionized how a smart phone should be by releasing the iPhone. In my
following result, the most popular response was
iPhone at around 87% out of 100% are very interested in building this product.
iPhone have held those first and second slots since June 2010 .The
demand of iPhone is increasing every day because there are some factor to
influence to their demand. Therefore, we are questioned to find out how the
factor to influence the demand of iPhone?
The main factor to
influence the demand of iPhone is taste
and preferences. For example, if the consumer prefers iPhone over than
Samsung. The demand for iPhone increases even though prices of both smart
phones remain the same.
Next, price of related goods
also one of the factors that influence the demand. Complements are goods that
can be used together. An increase in the price of one result in a decrease in
demand for the complement.
Lastly, the factor to influence the demand is level of income. Even price of the good is unchanged, if the level
of income is high, the demand for a particular good will be higher, vice-versa.
Source:
1. www.apple.com
2. http://bgr.com/2013/03/06/apple-growth-analysis-361685/
Entry By: Chee Hau
What is the different between Changes in Demand and Changes in quantity demanded ..?
ReplyDeleteChanges in demand happens when the price of goods and services change. An example is when the price of a good increases, the demand for the good itself will eventually decrease and vise- versa.The changes in demand curve only move along the curve itself. For the change in quantity demanded happens when the price are constant but the following factors changes the demand such as level of income, taste of preferences, prices of related good or services, expectations and other influencing factors. The curve of changes in quantity demanded will only shit to the left or right.
ReplyDeleteWhat is the different between Demand and The Law of Demand?
ReplyDeleteDemand is the desire and ability to consume certain quantities of a good and service at certain prices at a particular point of time.
ReplyDeleteThe Law of Demand is a kind of concept which is all households/consumers are believed to be rational, consumers will respond to different circumstances by changing their behavior.
Hi,i have a question :) Can you give me an example of a situation for the changes in quantity demanded curve?
ReplyDeleteA good example is the fact that this situation only happens when price are constant but the quantity demanded are not constant as it depends on a few factors. In this example i will use the taste and preferences. Globally most consumers prefer Apple iOS over Android. Therefore the demand for iOS is higher than the Android. This is due to the taste and preferences from the customers or consumers. Hope you understand this example :)
ReplyDeleteWow. Thanks for the information about the factors influencing the demand and the explanation about the different between the law of demand and demand. It's useful for my assignment. Thx a lot!!!
ReplyDelete