Question

can social media move the demand curve? if so, how?

can social media move the demand curve? if so, how?

Homework Answers

Answer #1

In economics, demand is a consumer desire and ability to purchase certain goods or services.On the other hand,a demand curve is a graphical representation of the relationship between the quantities consumer can demand at a specific price when other factors are held constant.A demand curve can shift or move completely either right or to the left due to various factors other than price.

Currently the world is experiencing rapid technological transformations,which have established many social media platforms.Social media can shift the demand curve due to consumer preference and attitude and their dynamic and relaiblity nature when used as advertisement avenues.

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