The size of the market for a particular product can be based on the following factors:- The quality of the product that is to say if the products satisfies the consumer,the demand is bound to increase whereas if quality is poor,the demand of the product is low.Prices also play a role in the market.The higher the price,the lower the demand and the lower the price the higher the demand.Another factor can be natural calamities such as wars,famine will necessitates the increase for a particular product
Can You Describe The Factors Which Influence The Size Of The Market For A Particular Product Or Service?
Supply and demand. What do people look for, what do they look, how much is it wanted. All this is has influence on the quality, quantity, and price