--%>

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 : What are the determinants of supply

    What are the determinants of supply?

  • Q : Which type of maximization required in

    Productive (technical) efficiency needs maximization of the: (i) opportunity cost of a specified value of output. (ii) resources used to produce a specified value of output. (iii) value of output produced for a given total cost. (iv) satisfaction atta

  • Q : Programs exchanged in the market For

    For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi

  • Q : Advantage and disadvantage of Sole

    Illustrate the advantage and disadvantage of Sole proprietorship?

  • Q : Problem on opportunity cost buying a

    After agonizing regarding whether to buy a hot dog or a hamburger along with his last dollar while he goes to the fair, Jeeter at last chooses the hot dog. The hamburger shows Jeeter's: (i) normative choice, because it would be more nutritious. (ii) opportunity cost o

  • Q : Interrelationships between economic

    Explain in detail the interrelationships between economic facts, theory, and policy.  Critically evaluate this statement:  “The trouble with economic theory is that it is not practical.  It is detached from the real world.”

  • Q : Illustrates inverse relationship

    Illustrates the inverse relationship between price and quantity?

  • Q : Illustrate the advantage and

    Illustrate the advantage and disadvantage of Corporations?

  • Q : Describe double coincidence of wants

    Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.

  • Q : Elucidate Ticket Scalping - A Bum Rap

    Elucidate “Ticket Scalping:  A Bum Rap”?