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Demand — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsDemand2 Marks
Question
What are the determinates of demand? Or Explain the factors affecting demand.
✓

Answer

  • The following factors affect the demand of commodity :
  • Price of the commodity
  • Population and age composition
  • Income of the consumer
  • Distribution of income
  • Price of the relative goods which include substitutes and complementary goods
  • Speculation about future price
  • Geographical situation of country
  • Quality of the commodity etc.

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