WSET Level 4 D2 Q&A

WSET Level 4 D2 Q&A
Question 1: Describe what happens when relative supply and
demand change
CORRECT ANSWER: When supply exceeds demand: price
falls, consumer have greater choice of cheaper alternatives.
Producers lower price to remain competitive. Fall in prices
lead to increased demand in the long run. When demand
exceeds supply: price increase, consumers willing to pay
higher for some wines; others simply switch to another wine
or a different alcoholic drink
Question 2: The general factors affecting demand for wine
CORRECT ANSWER: Social, Economic, Legislative,
Political
Question 3: List major social factors affecting demand for
wine

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