explain the factors affecting demand for a commodity.
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The quantity demanded of a commodity by a consumer depends mainly on price of the commodity itself, prices of other related goods, income of consumer and tastes and preferences of the consumer.
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ᴛʜᴇ ǫᴜᴀɴᴛɪᴛʏ ᴅᴇᴍᴀɴᴅᴇᴅ ᴏғ ᴀ ᴄᴏᴍᴍᴏᴅɪᴛʏ ʙʏ ᴀ ᴄᴏɴsᴜᴍᴇʀ ᴅᴇᴘᴇɴᴅs ᴍᴀɪɴʟʏ ᴏɴ ᴘʀɪᴄᴇ ᴏғ ᴛʜᴇ ᴄᴏᴍᴍᴏᴅɪᴛʏ ɪᴛsᴇʟғ, ᴘʀɪᴄᴇs ᴏғ ᴏᴛʜᴇʀ ʀᴇʟᴀᴛᴇᴅ ɢᴏᴏᴅs, ɪɴᴄᴏᴍᴇ ᴏғ ᴄᴏɴsᴜᴍᴇʀ ᴀɴᴅ ᴛᴀsᴛᴇs ᴀɴᴅ ᴘʀᴇғᴇʀᴇɴᴄᴇs ᴏғ ᴛʜᴇ ᴄᴏɴsᴜᴍᴇʀ.
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