Question 11

In economic terms, which of the following factors determine the 'Individual's demand' of a
product/commodity ?
(A) Price of a commodity.
(B) Income of the individual.
(C) Utility and quality of a commodity

Solution

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All three factors (A), (B), and (C) are correct — Price of a commodity, Income of the individual, and Utility and quality of a commodity all determine an individual's demand.

The complete list of factors determining Individual Demand

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