Question

Explain the factors affecting law of demand.​

Answer 1

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.

Answer 2

Answer:

Factors Are:

•Price of the Product. There is an inverse (negative) relationship between the price of a product and the amount of that product consumers are willing and able to buy.

•The Consumer's Income.

•The Price of Related Goods.

•The Tastes and Preferences of Consumers.

•The Consumer's Expectations.

•The Number of Consumers in the Market.

Explanation:

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