ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT a factor that affects demand?
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Income
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Complements
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Cost of Resources
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Consumer Expectations
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Market Size
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Explanation:
Detailed explanation-1: -Increase in capital goods is not a factor in demand.
Detailed explanation-2: -The quantity demanded (qD) is a function of five factors-price, buyer income, the price of related goods, consumer tastes, and any consumer expectations of future supply and price.
Detailed explanation-3: -Price of the Product. The Consumer’s Income. The Price of Related Goods. The Tastes and Preferences of Consumers. The Consumer’s Expectations. The Number of Consumers in the Market.
Detailed explanation-4: -The needs of the consumer. Consumer income (Y) Consumer tastes, preferences and fashions. Habit. Brand loyalty. The price of substitute products. The price of complementary products. Natural factors. More items •13-Jan-2020
There is 1 question to complete.