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Illustrates the factors changes in demand

Illustrates the factors changes in demand?

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Demand of a commodity may change. This may decrease or rise because of changes in exact factors.
These factors are termed as determinants of demand. Such factors include;

1) Nature of a commodity
2) Price of commodity
3) Wealth and Income of consumer
4) Preferences and Taste of consumer
5) Price of associated goods (compliment and substitutes goods)
6) Expectations of consumers. And
7) Advertisement and so on.

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