Which are the key deciding factors …
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Meghna Thapar 5 years, 6 months ago
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. The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. ... This means that the higher the price, the higher the quantity supplied. Producers supply more at a higher price because selling a higher quantity at a higher price increases revenue. The demand for a good depends on several factors, such as price of the good, perceived quality, advertising, income, confidence of consumers and changes in taste and fashion. ... It shows the quantity of a good consumers plan to buy at different prices
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