Demand-various amounts of a good or service that consumers are willing and can by at various prices in a given period of time-1.income,2.population,3.seasonal factors,4.tastes and fashion,5.change in the price of substitutes,6.change in the price of complements
Supply-the various amount of a good or service producers are willing to put on the market at various prices in a given period of time.1.change in the price of a factor of production 2.change in the state of techology 3.govn intervension 4.new firms entering the industry
Govn intervension-1.imposition of a tax(ad valorem%,specific£) 2.pays subsidy 3.Imposition of a max/min price 4.Implementation of a buffer stock system(max&min) 6.imposition of a quota.