Name four factors that affect the individual demand for a commodity.
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Factor # 1. Price of the Commodity
Factor # 2. Income of the Purchaser
Factor # 3. Person’s Taste’s and Habits
Factor # 4. Substitutes and Complementary Products and their Relative Prices
Factor # 5. Consumer’s Expectation About the Future Change in Price
Factor # 6. Effects of Advertisement and Sales Propaganda
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