Question

What is demand? Explain factors influencing demand?

Answer 1

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There are many factors that influence demand. The primary factor is price. Price determines the quantity demanded at any price. ... Income: when income increasesdemand increases in case of normal goods and decreases in case of inferior goods.
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Answer 2

Demand is a quality of goods purchase by consumer at a particular time .

Factors affecting or influencing demand are :_1)price of commodity(Px) 2) Consumers income(M) a)Normal goods b) Inferior goods 3) Price of related goods a)Test and preference b) Complementary goods c)Substitute goods d)Weather and climate e) Population