Which of the following is a non-price determinant of demand?

A. prices of related goods and services
B. tastes and preferences
C. income
D. All of these are correct.

Answer: D

Economics

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If two countries are very different in relative factor abundance, then empirical support for which of the following would less likely?

A) the Factor Price Equalization Theorem B) the Heckscher-Ohlin Theorem C) the Law of One Price D) the Law of Demand E) the Gravity Theorem

Economics

Researchers have found that tax increases may have a small effect in the quantity purchased because

A) individuals might forget about the tax (salience). B) individuals are rational. C) individuals are credit constrained. D) individuals do not care about prices.

Economics