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Unformatted text preview: f The state of the market for the product if there is a high demand for the product, but a shortage then the business can put prices up. Recently, when the US government decided to publish guidelines on what to do in the event of war, following the terrorist attacks on their country, people rushed out to buy masking tape. There was quickly a shortage and prices went up. Union Jack flags during the Jubilee year were also subject to higher prices for the same reason. f The state of the economy some products are more sensitive to changes in unemployment and workers wages than others. Makers of luxury products will need to drop prices especially when the economy is in a downturn. Key Links for GCSE Business Studies http://www.tutor2u.net/ Discussion Board for GCSE Business Studies Other GCSE Business Studies Revision Notes and Resources from tutor2u Tutor2u GCSE Business Online Store...
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- Spring '10