Demand factors refer to
A)the number of consumers who can afford to purchase a product or service.
B)the price that should be charged for a given product.
C)consumers' willingness and ability to pay for products and services.
D)the number of consumers who want to purchase a product.
E)the number of consumers who can purchase a product.

Question

Quizplus · Accepted Answer

Demand factors refer to the consumers' willingness and ability to pay for products and services. It is not just about how many consumers want to purchase a product or how many can afford to buy it, but also how much they are willing to pay for it. Therefore, the correct answer is C.

Demand Factors Refer to