"Economics is not only for smart people or experts. These ideas are too important and too interesting. Everyone should know about economics. "
There are many non- price factors that can make demand increase or decrease. These involve: change in consumer incomes, change of consumers taste and preferences, change in population size or demographics, change in expectations for future prices and changes in prices of substitute or complement goods.
This basic theory could be applied by any entrepreneur or business owner to improve their businesses and manage it better. It could make a big difference.
● IDEAS IN ECONOMICS ARE I N T U I T I V E●
Concepts and ideas come from logic from everyday problems (Naked Economics).