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Parental Education
Cultural Attitudes
Demand Factors
Availability
Policy
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Demand factors is not only important for the business or economical world, but it is also
important aspect, when comes to education industry as well. There are a lot of factor which
affecting the demand in education. The above diagram shows the factors affecting the demand in
education.
First factor which affecting the demand of education is socioeconomic status. Wealthy or
rich people understand the economic benefit of education. Therefore it becomes a valued
resource and a symbol of status, but those who are not wealthy enough not really look at the
education as an important aspect. Wealthy people value the education as a status or standard for
them to increase their standard of living.
Second factor is Market forces. Market forces is another important aspect when comes to
education because after the study, students always want them as a marketable graduate. So to
make sure that, they will always look for the programme which is demand. For example if the
technological forces demand more skilled labor, more people will seek out higher education.
Third factors is Parental education. Most of the uneducated parents are not really value
the important of education, because they think that without education also people can earn
money and survive in this world. So if the parents are educated, they will definitely encourage
their children for the higher education and form there the demand for the education will be
increase.
Fourth factor is Cultural attitudes. Few ethnicity from different countries are not really
encourage girls to pursue their education. The reason because they afraid of their safety and also
they dont feel that girls are really need higher education. Girls from this type of culture will get
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married at early age like 16 to 19 years old. Cultural attitudes also can be considered as a culture
that values the intrinsic nature of education.
Fifth factor is policy. Government policy is another motivational tools for the people to
get their higher education. For instance, if government introduce a policy which all the
government staff must possess bachelor degree as a minimum qualification by giving them the
increment. So that many people will pursue their study and this will eventually increase the
demand in education.
Last but not least is the availability factors. If educational opportunities are available to a
society, a certain segment of that society will take at advantage of opportunities presented to
them. For example like building a college at rural area, definitely more people from that
surrounding area will enroll in that college.
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State of Technology
Price of Fees
Government Policy
Government Policy
Supply
Factors
Goals / Objectives of
Educational Institutes
Goals / Objectives of Ministry
of Education
Languages Employment
Opportunities
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2. State of Technology:
Technological changes that affect the area has to offer. Advanced technology and better
reduce the cost of production, which raises profit margins. Studies Institute will offer many
course related to the changes in technology, in order to meet current needs.
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Conclusion, supply and demand studied independently of each other, even though both
are interrelated then at the point of equilibrium.