Question

Define demand. Explain four determinants of demand.​

Answer 1

Demand is the quantity that a consumer is willing and able to buy, at each possible price during a given period of time.

Four determinants of demand are -

1. Price of the given commodity.

2. Price of related goods.

✓Substitute goods

✓Complementary goods

3. Income of the consumer.

✓Normal goods

✓Inferior goods

4. Tastes and preferences.

5. Expectation of change in the price in future.

sorry can't explain determinants in brief but u can refer to book please

hope it helps u.