Determinants of demand and supply

Answer 1

determinants of demand :
-income and wealth
-prices of other goods and services
-tastes and preferences
-expectations

determinants of supply :
-the cost of production
-the prices of related product

Answer 2

1. Price of the good

2. Income of the consumer

3. Price of related goods

4. Future expectations

5. Credit facilities

6. Composition of population

7. Distribution of income
a nonprice factor that influences the amount of demand for a good or service

Answer 3

human needsbring-most of demands,and new techogilices which bring comfort and passion to humans comes in demands any orginasation or industaries must produce this products to humans or society ecomeny actavies needs money and manpower,humans have moneyso ecomeny actives done among them,in olden days ecomenic actives in smaller aways ex only villages,butknown in gobalization it is done in lager scale one thing iwant tell NO ONESALES SOMETHING,,,NO ONE BUY SOMETHING NOTHING HAPPENS,THIER WILL NO DEMAND,,,,,WE AREIN POSTIVE WORLD,,,,,EVERY ONE SELLS SOMETHING FOR LIVEING

Answer 4

The demand for a product will be influenced by several factors:

Price

Usually viewed as the most important factor that affects demand. Products have different sensitivity to changes in price. For example, demand for necessities such as bread, eggs and butter does not tend to change significantly when prices move up or down

Income levels

When an individual's income goes up, their ability to purchase goods and services increases, and this causes demand to increase. When incomes fall there will be a decrease in the demand for most goods

Consumer tastes and preferences

Changing tastes and preferences can have a significant effect on demand for different products. Persuasive advertising is designed to cause a change in tastes and preferences and thereby create an increase in demand. A good example of this is the recent surge in sales of smoothies!

Competition

Competitors are always looking to take a bigger share of the market, perhaps by cutting their prices or by introducing a new or better version of a product

Fashions

When a product becomes unfashionable, demand can quickly fall away.

Tags: demand, prices, competition, price

Answer 5

Customer demand and the manufacturer's supply both affect elasticity of demand. If a customer doesn't need it then elasticity may not be affected when the product is no longer available.

Answer 6

price,supply,type of the product,utility of the product and availability of the product

Answer 7

1 .price of substitute good

2. seasonal products

3. government policy

4. income level

5.