Explain any two factors affecting individual demand for a commodity.
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The demand for a good depends on several factors, such as price of the good, perceived quality, advertising, income, confidence of consumers and changes in taste and fashion. We can look at either an individual demand curve or the total demand in the economy.
Tastes and Preferences of the Consumers: ADVERTISEMENTS: ...
Income of the People: ...
Changes in Prices of the Related Goods: ...
Advertisement Expenditure: ...
The Number of Consumers in the Market: ...
Consumers' Expectations with Regard to Future Prices:
Explanation:
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