Which best summarizes how consumer demand changes? Consumer demand changes over time based on few factors. Consumer demand changes often based on many factors. Consumer demand changes over time based on specific factors. Consumer demand changes often based on few factors.
Answers
Answered by
0
Market demand schedule. In economics, a Market Demand Schedule is a tabulation of the quantity of a good that all consumers in a market will purchase at a given price. Generally, there is an inverse relationship between the price and the quantity demanded.
Answered by
3
The answer is: Consumer demand changes over time based on specific factors.
These are preferences, earning, price of the goods, prices of related goods(market trend), taste, and expectation, etc.
These are many factors but it has been observed that based on these specific factors only consumer demand gets changed.
These factors are called the five determinants of consumer demand.
This can be expressed by the formula of qD=f ( f- five determinants of consumer demand)
Similar questions