GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Demand has the following elements
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Time
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Price
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Quantity
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All of these
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Explanation:
Detailed explanation-1: -Demand must have the following elements: desire, want, quantity price and time.
Detailed explanation-2: -Demand can be of the following types: Market demand. Individual demand. Cross demand.
Detailed explanation-3: -Price of product. The single-most impactful factor on a product’s demand is the price. Tastes and preferences. Consumer’s income. Availability of substitutes. Number of consumers in the market. Consumer’s expectations. Elasticity vs. inelasticity.
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