Non Price determinants of Demand
Key points
- The non-price determinants of demand are the factors that affect demand excluding price.
- The determinants of demand are…
- Income
- Preferences and Tastes
- Prices of a substitute and complementary goods
- The number of consumers
The Non-Price Determinants of Demand are the factors that affect demand excluding price.
The determinants include…
- Changes in Income
- Preferences and Tastes
- Prices of a substitute and complementary goods
- Substitute goods are goods that replace other goods.
- Complementary goods are goods that complement another good
- The Number of Consumers
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