Question

determination of demand​

Answer 1

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.

Answer 2

Answer:

The price of the good or service.

Income of buyers.

Prices of related goods or services. These are either complementary, those purchased along with a particular good or service, or substitutes, those purchased instead of a certain good or service.

Tastes or preferences of consumers.

Expectations. These are usually about whether the price will go up.

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