The role of price factors in the economy

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What are we talking about? Price factors are conditions that influence demand. This group includes everything that is somehow related to price: the interest rate effect, sources of product supply, the cost of complementary or substitute goods.

What to pay attention to? Taking into account conduit cn mobile number database price factors, a business can influence the behavior of buyers. This data is also used to form the company's pricing policy and strategy.



From this material you will learn:

Types of price factors of demand
Price factors of demand elasticity
The influence of price factors on consumer behavior
Frequently Asked Questions about Pricing Factors

The role of price factors in the economy
As is known, pricing in a market economy is determined by the relationship between supply and demand for a particular product, so that ideally the market price will be set at the point at which supply and demand are equalized.

Accordingly, a change in price affects the volume of supply, which will move in the same direction, and the size of demand, and here the dynamics demonstrate an inverse relationship.