Question

Determinants of Demands:
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Answer 1

Answer:

Explanation:

Determinants of demands are:

•the price of goods or services

•income of buyers

•price of related goods

•tastes of consumer

•expectations of the consumer

Answer 2

Answer:

The factors that affect/ change the demand of a commodity in the market are known as determinants of demand.

Dx = f(Px, M, T, Pl, t, Pr)

Dx = Demand of Good X

f = Functional Relationship

Px = Price of Good X

M = Money Income

T = Taste and preference

Pl = Population

t = Time

Pr = Price of related goods