Determinants Of PED : Brief
- Substitution - Key Point
- Income - Key Point
- Necessity
- Habits And Addiction ( Fashion And Tastes Included ) - Key Point
- Advertising And Brand Loyalty
- Time - Key Point
- Durability
- Costs Of Switching

Substitution

If The Substitution Level Is Really High For Goods And Service The PED Value Will Tend To Be More Higher As Certain Products Will Have A Increase In Price Which Makes Suppliers Substitute A Product With Low Price

Example - Let's Assume Weekly Coffee Is Sold For 10 Dollars But Tea Is Sold For 5 Dollars Weekly, Many People Will Choose Tea For Coffee According To The Price

Income

Necessity

Habits, Addiction, Taste And Fashion

Advertising And Brand Loyalty

Time

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Determinants Of PED

Determinants Of PED : Brief

Ayana Ashok

A2

Karthikeyan

A1

Aryan

A

Neel

A

Niveditha

A

Sreeshan

A

Aswajith

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Eshaan

--

Ridha

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