Question

In drawing an individual demand curve, all but one of the following are kept constant
-Price of the commodity
-Price of other commodities
-Income of the consumer
-Taste and preference of the consumer

Answer 1

Answer:

price of commodity

The price of commodities is quoted in two different ways. The first is the market or the market futures price, which is the price reported in the news. The spot price, on the other hand, is the cash price of commodities. This is what traders actually for the commodity on the day of purchase.

price.of other commodities

In a market-based economy the quantity of a commodity people buy depends on its price. The higher the price of a commodity, all other things remaining unchanged, the fewer units consumers are willing to buy. The lower its price, the more units of it are purchased

income of the consumer

Consumer income is the money that a consumer earns from either work or investment, such as dividends distributed by companies to its shareholders and the gain realized on the sale of an asset, such as a house. When you combine these income sources, it's often referred to as aggregate income.