Demand
Consumer needs are the driving force behind demand, and the perceived value of a good or service
greatly influences the nature of that demand. The acquisition of certain products is deemed essential
for human sustenance, such as fundamental food items. However, there exist other commodities
that may hold significant value for certain individuals while being deemed insignificant by others.
The determination of the level of demand for a good or service is influenced by various factors,
which may include:
Factors that influence the demand for a good or service include its price, the prices of other goods
and services, particularly substitutes and complements, income, tastes and preferences, and
expectations.