Question

state four factors affecting demand for a commodity by a consumer.

Answer 1

The various factors affecting demand are:

Price of the Given Commodity: It is the most important factor affecting demand for the given commodity.

Price of Related Goods

Income of the Consumer

Tastes and Preferences

Answer 2

There are many factors which influence the demand are called determinants of demand. The following factors effect demand of a commodity.

1. Price of the commodity

2.Income of the consumer

3.State of the consumer

4.Price of the related commodities etc...