- Group(s): Key terms and concepts
Latent demand exists when there is willingness to purchase a good or service, but where the consumer lacks the purchasing power to afford the product. Latent demand is affected by persuasive advertising which seeks to influence consumer tastes and preferences.
From the Reference Library
Our A Level Economics Grade Booster workshops are designed to provide essential revision support to all A Level Economics students as they complete their preparation for the three terminal papers...
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