Question

Explain different determinants of demand

Answer 1

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:

Answer 2

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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