Eftirspurnin
Eftirspurnin is an Icelandic term that translates to "demand" in English. In economics, it refers to the quantity of a good or service that consumers are willing and able to purchase at various prices during a specific period. The law of demand states that, all other factors being equal, as the price of a good or service increases, the quantity demanded will decrease, and conversely, as the price decreases, the quantity demanded will increase.
Several factors can influence eftirspurnin beyond price. These include consumer income, tastes and preferences, the prices
Understanding eftirspurnin is crucial for businesses in setting prices, determining production levels, and forecasting sales. It