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A combination of three things:
(a) people's willingness to pay for the product:
(b) the number of them (e.g., the size of the potential market), and
(c) the amount of income they have to spend on the product.
Wiki User
∙ 14y ago
Wiki User
∙ 14y agoThere are many factors that determine/ affect demand here are a few basic factors;
- Own Price - The price of the good itself
- Money Income - This is the actual amount of money you earn, i.e. $X
- Price of Related Goods - the price of BMW cars increase, demand for Mercedes-Benz cars will increase
- Taste - This refers to a consumers preference for a good, if taste increases demand increases.
- Expectations of future prices - If you expect the price of TVs to rise soon, demand for TVs will increase now.
If it's wet during the summer not many Ice Creams will be demanded
If there is a demand that Bread causes Cancer demand for Bread will fall dramatically
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Different states of demand?
Negative demand No demand Latent demand Declining demand Irregular demand Full demand Overfull demand Unwholesome demand
How do you explain What are the types of demand?
Negative demand nonexistent demand latent demand declining demand Irregular demand full demand overfull demand unwholesome demand
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
What is variable demand stochastic demand deterministic demand?
stochastic demand is random demand. it is determined by predictable actions and a random element.
What determins the shape of an organ?
Its position in the body.
What is the molecule that determins the characteristics of living things?
DNA
What determins the number of beats grouped in each measure?
Time Signature
What is the horsepower of a steam engine?
Depends on the size of the piston. That is what determins the HP.
What determins healthy soil?
If your plants grow in it its healthy If your plants dont grow in it it not healthy
What determins the precision of a calculated result based on measurements?
the precision of the least precise measuement
What determins how long a star lives?
It's luminosity,motion and mass.
Which parent determins a child's gender?
I believe the father of the baby determines the sex of the baby.
Do protein pills make you bigger?
No it is in your genes that determins your size. no pill or food ever worked.
What layer of the tcpip stack represents logical addressing and determins the best path through the network?
INTERNET
What determins how quickly a rock is weathered?
How sharp or dull the rock is, This process usually takes thousands of years
How are climates closer to the poles similar to the tops of vertical climates?
Climates closer to the poles and the tops of vertical climates have similarities in terms of cooler temperatures, lower air pressure, and limited vegetation due to harsh conditions. Both regions experience extreme weather patterns and can support specialized flora and fauna adapted to these challenging environments.
