What is market demand state four factors causing increase in market demand?
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Demand is the quantity of a good or service that consumers and businesses are willing and able to buy at a given price in a given time period.Market demand is the sum of the individual demand for a product from buyers in the market.
Factors responsible for increase in market demand are:- 1. Income - increase in income leads to increase in demand of superior good but decrease in demand of inferior goods.
2. Price- increase in price leads to decrease in demand of non essential goods.
Factors responsible for increase in market demand are:- 1. Income - increase in income leads to increase in demand of superior good but decrease in demand of inferior goods.
2. Price- increase in price leads to decrease in demand of non essential goods.
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