Briefly explain the determinants of individual demand for a commodity
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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
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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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