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  1. Price: As price decreases, demand typically increases.
  2. Income: Higher income levels usually lead to higher demand.
  3. Price of related goods: Changes in the prices of substitutes or complements can impact demand.
  4. Consumer preferences: Changes in tastes and preferences can affect demand for a product.
  5. Advertising and promotional activities: Marketing efforts can influence consumer demand for a product.
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1y ago

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