What is demand and who demanded the goods and services? Enumerate the determinants of demand.
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Demand is an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service. Holding all other factors constant, an increase in the price of a good or service will decrease the quantity demanded, and vice versa.
Levels of income. A key determinant of demand is the level of income evident in the appropriate country or region under analysis. ...
Population. Population is of course a key determinant of demand. ...
End market indicators. ...
Availability and price of substitute goods. ...
Tastes and preferences.
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