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10 December, 10:19

Which of the following are non-price determinants of demand?

advertising

change in population

prices of raw materials

production technology

future expectation of prices

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Answers (1)
  1. 10 December, 13:20
    0
    Answer;

    Future expectation of prices

    Explanation; Demand refers to the quantity of a good or service that consumers and businesses are willing and able to buy at a given price in a given time period. Demand is determined by various factors such as price of the goods and other non-price determinants. Non-price determinants include; the income of the buyers or consumers, tastes and preferences of consumers, prices of related goods and services known as complementary goods and the future expectations of prices among other factors.
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