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    Determinants of demand and the demand curve

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    What are the determinants of demand and what happens to the demand curve when each of these determinants change? What is the difference between a change in demand and a change in the quantity demanded?

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    Solution Preview

    There are five determinants of demand namely:

    1. Change in consumer tastes
    2. Change in number of Buyers
    3. Change in consumer income (Are they buying normal goods, inferior goods)
    4. Change in price of ...

    Solution Summary

    This solution highlights the determinants of demand and what happens to the demand curve when each of these determinants change. It also discusses the differences between a change in demand and a change in the quantity demanded

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