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Demand For Sneakers Or Running Shoes

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Demand And Supply
Sneakers or running shoes. Giving the economic situation the world is currently in, the market of certain products can be greatly affected depending on the demand and supply of these products. Sneakers or running shoes as it is, has an increasingly demand and supply curve considering the fact that, the world is highly increasing in both the youth and old age population. A high percentage of Americans strive to stay healthy which involve being physically fit. Running as we know, is what must people do to stay physically fit. This causes a high demand and supply for sneakers or running shoes. The demand an supply of sneakers can be influence by numerous factors. Demand, demand is the quantity of good or services
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An increase in the quality of sneakers can cause people to buy one and vice versa. Buyers expectations. If buyers suspect a an increase sneaker prices, the demand for sneakers will increase in the current market and decrease if prices are suspected to drop. Advertising can increase brand loyalty to the goods and increase demand. For example, higher spending on advertising by Nike running shoes has increased global sales. Supply, is the producer's willingness and ability to supply a given good at various price points, holding all else constant. Supply can be influenced by a number of factors that are called the determinants of supply. Generally, the supply of a product depends on its price and cost of production. In simple terms, supply is the function of price and cost of production. some of the factors influencing the supply of a sneaker or ruining shoes is as …show more content…
For example, a seller would supply less quantity of sneakers in the market, when the cost of production exceeds the market price of the sneaker. Technology is another factor of supply. It is one of the most important determinant of supply. A good technological system in the production of sneakers increases the quality and quantity in the production of sneakers, which intend increases the supply of sneakers. Price is the main factor that influences the supply of a product. If the price of sneakers increases, the supply of sneaker also increases and vice versa. Here you can tell price has a direct relationship with supply unlike demand. If producers Speculate a rise in the price of sneakers in the future, they will decrease the supply of sneakers in the current market to maximize profit in the future. But however, if sellers anticipate a decrease in the price of sneakers in the future, they will increase the supply of sneakers in the current market to avoid profit lost in the future. The last factor I would discuss is Government policies. Government policies such as fiscal policy and industrial policy, impacts supply of a product greatly. For example, an increase in the tax rate on sneakers production would decrease the supply of sneakers. Whereas if taxes a low on sneakers, production would increase, which

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