Question

what technological trend affect electronic shopping and mail-order houses in covid 19?

what is the relevant relationship between "determinants of demand" and "elasticity of demand and supply"?

and please list the work cited for me. thank you

Answer 1

Due to covid -19 there is showing trends towards moving from offline to online shopping .Now consumer is spending more time online.Now marketing strategy for selling goods online are changing.this is like adoption of new trend in the market for a short span of time.everyone is moving to flexible channel.Now demand for online product is increasing .now advertise and promotion through online is increasing with cheaper price.This strategy is not using for short time only but this is also for long term because no one know how we will overcome through this situation.now everyone is want to take benefit of this oppurtunity.New market is created and They will tried to adapt to new customer.now everything is online.order the product online then payment is done through online.

There are 5 determine of demand who decides the demand of a product.like price of the goods and service,income of buyers,price of related goods &services,taste and preference of consumer and customer expectation.

These factor determine the demand.while elasticity of demand and supply tells about how much elasticity of demand happens when there is changes in price ,income of the consumer.

Hence determinates and elasticity of demand both have direct relationship because if any one of determinates changed then elasticity of demand will also fluctuate.this is happens just because these are determinates who are factor behind changing in elasticity of demand and supply.