Answer to Question #97903 in Microeconomics for PANKAJ TAPARIA

Question #97903
“Determinant of demand are the important factor which influences the decision of the
consumers to purchase commodity or a service”
With respect to the above statement discuss any 5 determinants of the individual demand.
1
Expert's answer
2019-11-05T09:54:54-0500

The five determinants of the individual demand are:

  1. The price of the good or service.
  2. Income of buyers.
  3. Prices of related goods or services.
  4. Tastes or preferences of consumers.
  5. Expectations.

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