Matching supply to demand Flashcards
1
Q
What is matching supply to demand
A
The ability of an organisation to supply sufficient goods or services to fully meet consumers demand for a good or service - Everyone that wants to buy the good or service is able to.
2
Q
What are some reasons as to why demand can fluctuate
A
Seasonal demand (umbrellas)
Changes in income (Incomes increasing could lead to less demand for inferior products)
Fashion and trends
Actions of competitors
3
Q
What are some reasons as to why demand can fluctuate
A
Season products (Ex strawberries, because they only grow at a certain point in the year)
Workforce issues (strikes)
Supply chain issues (Delays, lack of raw materials etc)
4
Q
A
