Question

Briefly explain the determinants of individual demand for a commodity

Answer 1

Heya...

Demand for any commodity is the desire of that one with the sufficient purchasing power and willingness to spend...

The individual demand for a commodity depend on so many determinants such as ____

Price of the commodity

Income of the individual

His tastes and preference

Commodity is in trend on not

Price of its related goods

Future expectations of availability

Thank you

Answer 2

Answer:

It says that the quantity demanded of a product is a function of five factors: price, income of the buyer, the price of related goods, the tastes of the consumer, and any expectation the consumer has of future supply, prices, etc.

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