The non-price determinants or other factors that affect demand are:Multiple choice question.held constant for any given demand curve.the same as those that influence the supply curve.the price and quantity demanded.changing along the demand curve.
Question
The non-price determinants or other factors that affect demand are:Multiple choice question.held constant for any given demand curve.the same as those that influence the supply curve.the price and quantity demanded.changing along the demand curve.
Solution
The correct answer is: held constant for any given demand curve.
Non-price determinants of demand are factors that influence demand other than the price of the product. These factors are held constant when drawing a demand curve. If these factors change, they can shift the entire demand curve. These factors include income, tastes and preferences, prices of related goods, expectations, and the number of buyers. They are not the same as those that influence the supply curve, nor are they the price and quantity demanded. They also do not change along the demand curve, as the demand curve assumes these factors are held constant.
Similar Questions
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