Question

Explain the factors affecting demand of a commodity.​

Answer 1

Explanation:

1. price of goods

2. income of the consumer

3. price given of the commodity

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Answer 2

The following factors determine market demand for a commodity:

• 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

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