demand and supply factors

demand factors (EGYPTO)

E:

Expectations of future price changes

G:

Govt policy (change in DIRECT tax rates etc)

Y:

change in consumers INCOME

P:

change in Price of related goods (substitutes, complements - same time, derived demand - manufacture)

T:

Taste and preferences

O: (3)

change in size n composition of population

seasonal factors (eg. market of winter clothes)

change in availability of credit facilities (lower bank interest loans etc) and hire purchases (longer repayment periods and smaller down payment sum)

supply factors (WETPIGS)

W:

Weather conditions (agricultural > harvests)

E:

expectations of future price changes > profitability

T:

state of Tech (improved production methods)

P:

Production of related goods (competitive supply, joint supply)

I:

change in price of factor Inputs (CELL)

G:

Govt policies (INDIRECT taxes imposed - GST, subsidies etc)

S:

number of Suppliers