Answer in detail explain in detail the determination of demand
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The Five Determinants of Demand
The price of the good or service. The income of buyers. The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes and bought instead of a product. The tastes or preferences of consumers will drivedemand.
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Answer:
Demand for the commodity increase when there is shortage
Explanation:
Demand can be expressed as 360-4P
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