Research on the Factors that Affect Demand and the Effects of Changes in Demand on Prices

Qiyao Wu

doi:10.54254/2754-1169/18/20230104

Research Article

Open access

Published on 13 September 2023

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Wu,Q. (2023). Research on the Factors that Affect Demand and the Effects of Changes in Demand on Prices. Advances in Economics, Management and Political Sciences,18,391-395.

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Research on the Factors that Affect Demand and the Effects of Changes in Demand on Prices

Qiyao Wu *^,1,

¹ The Ohio State University

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/18/20230104

Abstract

Demand theory is one of the major fundamental and important theories of economics. It explores the relationship between consumer demand and price. Consumer demand is influenced by a variety of factors, which leads to different price changes that affect the entire social economic changes. Through a literature review, this article explores the analysis of demand theory and the three factors that influence demand, income, relevant markets and advertising. The article points out that willingness to pay and utility theory can be used to understand demand theory, and this research also analyzes the impact of income, relevant products, and advertisement on demand.

Keywords

economics, demand, income, relevant products, advertisement

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References

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Cite this article

Wu,Q. (2023). Research on the Factors that Affect Demand and the Effects of Changes in Demand on Prices. Advances in Economics, Management and Political Sciences,18,391-395.

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About volume

Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development

Conference website: https://2023.icmred.org/

ISBN：978-1-915371-79-9(Print) / 978-1-915371-80-5(Online)

Conference date: 28 April 2023

Editor：Canh Thien Dang, Javier Cifuentes-Faura

Series: Advances in Economics, Management and Political Sciences

Volume number: Vol.18

ISSN：2754-1169(Print) / 2754-1177(Online)

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