Critically examine theory of demand supported by the examples from Essay

Critically examine theory of demand supported by the examples from wine Industry (moldovan wine) - Essay Example In other words, there is a likelihood of people tending to purchase a different product that can give them the same satisfaction or other alternatives in which they spend a smaller amount of money (Cachon & Terwiesch, 47). The relationship between price and quantity demanded is represented in the figure below (fig. 1) There are various determinants of the quantity demanded, which lead to a shift in the demand curve. The shift is either outwards whereby the demand of a product goes up or goes down (inward shift). Consumer tastes and preferences are among the determinants that can either increase or decrease the demand (Fairey, 31). For example, if consumers gain confidence in Moldovan Wine, they are likely to buy more than other kinds of wines. In such a situation, even if the price increases and that of other wines reduce, the demand may not react to the price changes. The tastes of consumers shift the demand to the right. On the other hand, if it does not satisfy consumer preferences, the demand falls (shifts to the left). The number of consumers in the particular market is also a major determinant of demand. If more consumers enter the market, the quantity demanded increases (Cachon & Terwiesch, 66). For example, if the number of Russian and other nationals in the region increases in South Africa during the FIFA world cup, the demand for Miestii Mici may rise as people tend to get a taste of the wine that they are used to. In the regions where the wine is not known to many consumers, less of it is consumed. The income of consumers also affects the demand of a commodity. For example, Miestii Mici is affordable to even the low income consumers and therefore the demand is usually high among people of diverse income levels. The prices of related goods are also a major determinant of the demand for a product. If there happens to be another product that can be used as a substitute for the Moldovan wine, consumers tend to purchase what is easily

Editi a paper Essay Example | Topics and Well Written Essays - 250 words - 3

Editi a paper - Essay Example First, living abroad might destroy a person`s mother tongue. The other factor is abandoning the language. It is a known fact that a the surrounding environment significantly influences affects the process of language acquisition of a language. When a child`s parents move to another country for specific purposes, the child will is likely to acquire the other country`s language. When living abroad there is a big chance that people lose their language to some degree. Such instances of losing one’s own mother tongue on account of migration are quite common. Some might lose everything about the language and others might lose some skills such as writing formally or speaking properly. However, the degree of loss is relative; some may completely forget their mother tongues or their first language while others may retain parts of it. In cases where the migrants practice their traditions in their adoptive country, they are far more likely to retain their first language and acquire the second one, i.e., the language widely spoken in the foreign country to which they have relocated. Some fam ilies try to keep their traditions by using their native language abroad. In other meaning, when they speak to a family member they use their native language and by this way they maintain the language. Throughout the history we have seen witnessed instances and / or read about people who lost their language because they did not use it anymore. They lived abroad and started using and learning the host country`s language. I have two friends who were born in the United State and spent six years in the US. They came back to Saudi Arabia and enrolled in school at the age of six and at that time there were no English subject taught in elementary schools. When they were By the time they attained the age of 12 at the age of 12, they have had forgotten most of their acquired language i.e., English and they struggled to learn the language and found it extremely