By: CRAIG J

CRAIG J — Tue, 14 Jul 2009 02:54:59 +0000

I would say the demand of something directly relates to the price and how the price will be influenced the following year. If a holiday is ‘in demand’ or popular then it can be offered at a higher price with a relatively safe guarantee that it would sell out. With low demand the price also has to be lowered in order to sell the product. Often direct marketing will affect the supply/demand of a product. A very well advertised or ‘hyped’ product will obviously sell better than a less well advertised product. Also the popularity of that product (or in this case the destination) will also have a bearing, and also be more popular during different times of the year. The demand for holidays in Cyprus are obviously going to be greater in the summer months when people are on holiday from school/work compared to other times of the year, at the same time the weather and attractions abroad are at their most favourable. Last minute bargains are usually not. They’re just advertised as that to encourage sales of products they either want to get rid of quickly or know aren’t selling well. E.g. If a hotel has to fill 200 rooms and they know they’ll make a profit on 175 of them by selling at £100 per person, then they can offer the remaining 25 rooms at discount to guarantee they’ll have a full hotel, from which they’ll subsequently generate additional profit from food/drink/entertainment etc.
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By: sneaker_love

sneaker_love — Tue, 14 Jul 2009 02:44:59 +0000

hi joey!
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By: Dean Garrat wanabe

Dean Garrat wanabe — Tue, 14 Jul 2009 02:29:59 +0000

lol your from Trent, Stuart swift , he said he left a clue in the question.
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By: snowhite123

snowhite123 — Tue, 14 Jul 2009 02:20:59 +0000

No clue
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Comments on: economics question plssss help me :’(?

By: CRAIG J

By: sneaker_love

By: Dean Garrat wanabe

By: snowhite123