what are the determinants of market demand and individual demand
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The Five Determinants of Demand
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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5 key determinants of demand for products and services
•Income. When an individual's income rises, they can buy more expensive products or purchase the products they usually buy in a greater volume. ...
•Price. ...
•Expectations, tastes, and preferences. ...
•Customer base. ...
•Economic conditions.
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