List five basic determinants of market demand that could cause demand to decrease. Be specific with...
List five basic determinants of market demand that could cause demand to decrease. Be specific with those determinants (or causes, factors, or shifters of demand curve) how they will decrease in demand.
Homework Answers
Five basic determinants of market demand are as
a. Income
b. Price of related goods
c. Change in tastes
d. Number of buyers
e. Expectation of future prices
Decrease in demans shifts demand curve to the left due to
a. Decrease in income
b. Price of substitute good falls then market demand for the good decreases
c. Lesser preference of the good
d. Number of buyers decreases then demand falls
e. Expectation of future price to fall
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