Demand Analysis

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DEMAND:“Demand for a commodity refers to the quantity of the commodity which an individual consumer or a household is willing to purchase per unit of time at a particular price” It implies: 1. desire of consumer to buy the product. 2. willingness to buy the product. 3. sufficient purchasing power in his possession to buy the product. Determinants of Demand General factors 1. Prices of the product itself : Substitution effect  Income effect 2. income of the consumer : In case of normal
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    DEMAND:-   “Demand for a commodity refers to the quantity of the commodity which an individual consumer or a household is willing to purchase per unit of time at a particular price”  It implies:1. desire of consumer to buy the product.2. willingness to buy the product.3. sufficient purchasing power in his possession tobuy the product.  Determinants of Demand  
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