The factor that most directly affects the demand for automobiles is the individual tastes and preferences of buyers.
Further Explanations:
Demands for automobiles are directly affected by customers' tastes and preferences. A buyer usually buys an automobile as per his requirement and expense even though he finalizes his choice after getting satisfied that his requirement is fulfilled by his choice. We can also determine that the sale also depends on the capability of the manufacturer to meet the demand of buyer.
Demand is stated to as the economic principle showing the consumer’s desire to purchase goods and avail the services by paying the specified price for that service. It is an obvious fact that the rise in demand occurs when there is a reduction in the price of the goods. Other factors are not considered much but the price is inversely proportional to the demand. Demand varies according to the prominent factors affecting the consumption and these variations are often handled by numerous Stocking strategies. In case when a customer tries to pay a marginal amount for the service at that time the provider tries to maximize his profit by every mean.
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Answer Details
Grade: High school
Subject: History
Chapter: Demand
Keywords: Demand, economic principle, consumers, specified amount, price, goods, inversely proportional, demand, prominent, Stocking strategies, automobiles, manufacturer.
