Understanding Demand: Factors Affecting Quantity Demanded

The video tutorial covers the concept of demand, explaining how price changes affect demand and introducing the idea of effective demand, which combines willingness and ability to purchase. It explores factors influencing demand, such as substitute and complementary goods, consumer income, and seasonal factors, using examples like Peugeot and Coca-Cola. The tutorial also delves into consumer psychology, discussing how perceptions of quality and status can affect demand. Key points include the inverse relationship between price and demand and the six factors that can alter demand without price changes.

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