ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following would NOT be a determinant of demand?
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The price of related goods
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Income
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Tastes
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The prices of the inputs used to produce the good
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Explanation:
Detailed explanation-1: -Determinants of demand are price of good, Price of the related goods, Income of the consumer, taste and preference, expectations etc., and quantity supplied is not a determinant of demand for a commodity.
Detailed explanation-2: -Answer and Explanation: Technological improvements in production is not a determinant of demand.
Detailed explanation-3: -Consumer’s Income. Price of Related Goods. Tastes and Preferences of Consumers. Consumer’s Expectations.
Detailed explanation-4: -The correct option is B. The cost of inputs used in production is the determinant of supply and not of demand.
Detailed explanation-5: -Option B is the answer. Cost of inputs in production is not a determinant of demand.
There is 1 question to complete.