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What is 'market' demand ? State four factors causing 'increase' in market demand. |
Answer» <html><body><p></p>Solution :Market Demand refers to the quantity of a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> that all <a href="https://interviewquestions.tuteehub.com/tag/consumers-14615" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMERS">CONSUMERS</a> are <a href="https://interviewquestions.tuteehub.com/tag/willing-2335259" style="font-weight:bold;" target="_blank" title="Click to know more about WILLING">WILLING</a> and able to buy, at each <a href="https://interviewquestions.tuteehub.com/tag/possible-592355" style="font-weight:bold;" target="_blank" title="Click to know more about POSSIBLE">POSSIBLE</a> price during a specific <a href="https://interviewquestions.tuteehub.com/tag/period-1151023" style="font-weight:bold;" target="_blank" title="Click to know more about PERIOD">PERIOD</a> of time.<br/>The factors causing an increase in market demand are :- <br/>(i) Increase in price of substitue goods.<br/>(ii) Fall in price of complementary goods.<br/>(iii) Increase in income of all the consumers.<br/>(iv) A favourable change in Tastes and Prefernces of the consumers.</body></html> | |