Question

Define Demand and explain factors affecting demand ?​

Answer 1

Explanation:

Introduction. We defined demand as the amount of some product that a consumer is willing and able to purchase at each price. This suggests at least two factors, in addition to price, that affect demand. “Willingness to purchase” suggests a desire to buy, and it depends on what economists call tastes and preferences.

Answer 2

an insistent and peremptory request, made as of right

factors affecting demand:

1. Number of consumers. The market’s demand for a good is influenced by adding up the individual demands of the present...

2. Consumers’s taste and preferences. Tastes and preferences of the consumer have a direct influence on the demand for a...

3. Consumer’s expectation. Another factor which influences the demand for goods is consumers’ expectations with regard...

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