Explain different determinants of demand
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Explanation:
7 Factors which Determine the Demand for Goods
Tastes and Preferences of the Consumers: ...
Incomes of the People: ...
Changes in the Prices of the Related Goods: ...
The Number of Consumers in the Market: ...
Changes in Propensity to Consume: ...
Consumers' Expectations with regard to Future Prices: ...
Income Distribution:
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Answer:
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 drive demand.
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