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Demand depends on a lot of factors. The price, income of consumer, price of other goods, the price of the complimentary goods, the seasonal factor (in certain cases), advertising, trends and fashion, tastes, population and much more.
Wiki User
∙ 12y ago
Wiki User
∙ 13y agoA change in demand is caused when a determinant of demand is changed. When the determinant of demand is changed the effect is a shift in a supply and demand graph.
Here are determinants
Change in consumer tastes(like salmonella found in specific foods)
Change in exceptions(people think that the price of oil will go up in the future, so they buy up the supply)
Increase in income(Increases in demand of superior goods vs decrease of interior goods and vice versa.)
and if a Complementary or Substitute good price changes.
Wiki User
∙ 11y agosupply and demand
geopolitical situation
underlying currency, usually the US$
government policies
weather
Wiki User
∙ 9y agoSome factors that affects are the following: Supply and demand, value of the dollar, tangible assets, politics like war and conflicts.
Wiki User
∙ 10y agoPrice
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How does price of commodity influence supply?
It's actually the other way around: the supply of a commodity influences its price, in that the more of the commodity you have, supposedly the lower the price to get people to buy more of it.
What factor has the grestest influence on elasticity and inelasticity of supply?
price of the commodity
What determine price?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
What is price determinant?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
Factors affecting demand for a commodity?
price of a commodity, the higher the prices, the lower the demand if there is not a equiblirum condition between demand and supply then it affect commodity demand , inflation and income, and monopoly in some commodity in some area is also affect demand of commodity
What factors influence consumer towards toothpaste?
the price and the cost
What factors influence supply others than price?
demand of the product
Is price of a commodity is study of microeconomics or macreconomics give your reason?
price of a commodity is a study of microeconomics as it deals with the behaviour of individual economic units or commodity.
How does nature of a commodity influence its Price Elasticity of demand?
Depends on what type of good like perishable or non perishable, durable and non durable.
How is steel priced?
Steel as with any other commodity is priced upon several factors: Grade of steel, demand factors (high construction, wartime demand etc), iron availability, quantity, labor cost, refining cost, transportation cost, and a host of smaller factors. Like every other commodity, the price of steel is the highest price that the current market will bear.
How is the law of supply similar to the law of demand?
If the demand for a commodity increases, but the supply does not increase equally, the price will increase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will decrease. If the demand for a commodity decreases, but the supply does not decrease equally, the price will decrease. If the supply of a commodity decreases, but the demand does not decrease equally, the price will increase.
What is a Non price factor?
Non-price factors are actions that may influence the behavior of the market price. This is also called as shift factors or determinants that affect the accelerating change.
