Define demand name the factors affecting …
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Yogita Ingle 6 years, 3 months ago
Market demand means the total quantity of a commodity that all its buyers are willing to purchase at different prices over a given period of time.
Factors determining market demand are:
(i) Own price of the good
(ii) Price of related goods
(iii) Income of the consumer
(iv) Taste and preferences of the consumer
(v) Expectation of the consumer regarding availability of a good
(vi) Size of population
(vii) Distribution of income
(viii) Composition of population
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