In purchasing a washing machine there are factors that can cause possible changes in supply and demand. I will explain the factors that affect the supply and demand of purchasing a washing machine, including two substitutes and two complements for my washing machine. I will also explain how the necessity of my chosen product, a washing machine, impacts the price elasticity.
There are many factors that come into play when you are going to purchase a new washer. First off, there are many different brands and different prices. There are front loaders, stackable, ones that are computer programed, and of course your basic washer and dryer. Before you purchase a washing machine researching the different brands and prices to see what is affordable within one’s income. Income, a factor that can cause possible changes in the supply and demand of purchasing a washer. If there is a high demand on a specific brand that you are interested in then the supply will decrease. When I was looking to purchase my washing machine I wanted new, not used, front loader with the matching dryer. Income for me wasn’t a factor, but the supply was. Finding the front loaders wasn’t easy. I had to go to a couple of different places because most didn’t have them in stock and having kids a washer is a necessity. …show more content…
I got a deal on the pedestals which was great because this set did sit low to the ground. I had a front load washer and dryer. The only down fall to purchasing a new washer and dryer is that with technology the newer washers are a high efficiency, which means that the consumer has to purchase laundry soap, bleach and softener that are stamped with a HE on it for high efficiency. Today’s society, I fell most individuals have washer and dryers that are high efficiency because the demand for the laundry soap has increased making the supply decrease. It is hard to find the brand of laundry detergent that I use because it is a popular one. The great thing is that with multiple brands they are all being made for high efficiency
There are many factors that come into play when you are going to purchase a new washer. First off, there are many different brands and different prices. There are front loaders, stackable, ones that are computer programed, and of course your basic washer and dryer. Before you purchase a washing machine researching the different brands and prices to see what is affordable within one’s income. Income, a factor that can cause possible changes in the supply and demand of purchasing a washer. If there is a high demand on a specific brand that you are interested in then the supply will decrease. When I was looking to purchase my washing machine I wanted new, not used, front loader with the matching dryer. Income for me wasn’t a factor, but the supply was. Finding the front loaders wasn’t easy. I had to go to a couple of different places because most didn’t have them in stock and having kids a washer is a necessity. …show more content…
I got a deal on the pedestals which was great because this set did sit low to the ground. I had a front load washer and dryer. The only down fall to purchasing a new washer and dryer is that with technology the newer washers are a high efficiency, which means that the consumer has to purchase laundry soap, bleach and softener that are stamped with a HE on it for high efficiency. Today’s society, I fell most individuals have washer and dryers that are high efficiency because the demand for the laundry soap has increased making the supply decrease. It is hard to find the brand of laundry detergent that I use because it is a popular one. The great thing is that with multiple brands they are all being made for high efficiency