Question

discuss the determination of market demand​

Answer 1

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Market demand describes the demand for a given product and who wants to purchase it. This is determined by how willing consumers are to spend a certain price on a particular good or service. As market demand increases, so does price. When the demand decreases, price will go down as well.

Answer 2

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Market demand describes the demand for a given product and who wants to purchase it. This is determined by how willing consumers are to spend a certain price on a particular good or service. As market demand increases, so does price. When the demand decreases, price will go down as well.

The Five Determinants of Demand

• The price of the good or service.
• The income of buyers.
• The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes and bought instead of a product.
• The tastes or preferences of consumers will

Terms in this set

• # of consumers.
• Income (normal goods)
• income (inferior goods)
• preferences.
• price of related goods: substitutes.
• price of related goods: compliments.
• expected future price by consumers.
• expected future income by consumers.

hope it helps you

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