Which of the Following Is a Non-Price Determinant of Demand

question 71

Multiple Choice

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

• A) income
• B) tastes and preferences
• C) prices of related goods and services
• D) All of the above are correct.

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Definitions:

Averaging

A statistical method used to combine or consolidate multiple values or measurements into a single mean or average value.

Risky Shift

The tendency for groups to make decisions that are more extreme, including riskier or more cautious, than the initial leanings of its members.

Superior Memories

Refers to an exceptional ability to remember and recall information compared to the average cognitive functions.

Inaccuracy

A lack of correctness or precision in information, measurements, or actions, leading to errors or discrepancies.