What are the five factors that influence the demand?

Asked on 26.09.2018 in All Questions.
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(Top Tutor) Studyfaq Tutor
An organization, while analyzing the effect of one specific determinant on demand, needs to make sure that all other determinants are to remain constant. This is since, if all the determinants can change or move simultaneously, then it would be too difficult to estimate the mass of change in demand in which may take place. The five main factors which influence demand are: Income: A rise in income will lead to an increase in demand, this would mean that there would be a shift in demand curve to the right, however, a fall will lead to a decrease in demand for normal goods...
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