Give two determinants of demand for a commodity.
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The five determinants of demand are:
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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The two determinants of demand are:
1. The price of the good or service.
2. The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes and bought instead of a product.
For aggregate demand, the number of buyers in the market is the sixth determinant.
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