--%>

What are the determinants of demand

What are the determinants of demand?

E

Expert

Verified

The fundamental determinant of demand is the price of the commodity under consideration: a change in price causes movement along the commodity’s demand curve.  This movement is called a change in quantity demanded. Decline price leads to association down the demand curve: There is an increase in quantity demanded. Increased price leads to movement up the demand curve: There is a decrease in quantity demanded.

   Related Questions in Business Economics

  • Q : Illustrate the advantage and

    Illustrate the advantage and disadvantage of Corporations?

  • Q : Production function for the game

    Question Can you describe what the production function for the game looks like? (How are labour, capital and resources combined? Are there constant, increasing or decreasing returns to scale?) Answer

    Q : Subjective aspects of pricing- economic

    Adam Smith must have emphasized more strongly how his Wealth of Nations drew concepts and inspiration by Richard Cantillon’s Essai. Now today’s perspective that the Wealth of Nations would considered even

  • Q : Laissez-faire philosophy of government

    As per to the laissez-faire philosophy of government,: (1) economy works best while all investment decisions are centralized. (2) market system works best along with only minimal government intervention. (3) government must be restricted to stabilizin

  • Q : Qualitative and Quantitative data What

    What is the difference between qualitative data and quantitative data, provide an example of each.

  • Q : Productive capacity After the Spanish

    After the Spanish found the new world, they promptly began to plunder this. They imported huge amount of gold and silver to Spain. It inflow of bullion caused a rapid increase in inflation, that would have grave consequences for Spain. It is quick inflation made this

  • Q : Allocating resources and distribute

    The market system tends to mainly beneficial allocating resources and distributes goods while: (1) the distributions of wealth and resource ownership are extensively perceived as equitable. (2) markets are extremely competitive. (3) goods are rival an

  • Q : Writ short note on the Income of

    Writ short note on the Income of personal distribution?

  • Q : The market system provides such a

    Explain the statements: The market system provides such a variety of desired goods and services precisely.

  • Q : Importance of Economics Importance of

    Importance of Economics:Economics has become one of the major branches of social sciences. This is of enormous practical value in our day by day life. In pure sciences, we study the subject