All of the Following Are Non-Price Determinants of Demand EXCEPT

question 83

Multiple Choice

All of the following are non-price determinants of demand EXCEPT

• A) price of related goods.
• B) price of raw materials used in production of the good.
• C) income.
• D) number of consumers.

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Definitions:

Inferior Good

A good for which demand decreases as consumer income rises, unlike normal goods, for which demand increases as consumer income rises.

Cross Elasticity of Demand

A measure of how the quantity demanded of one good responds to a change in the price of another good.

Soft Drinks

Non-alcoholic beverages that are typically carbonated and contain various flavorings and sweeteners.

Cross Elasticity of Demand

A measure of the responsiveness of demand for a good to a change in the price of another good, showing the degree of substitutability or complementarity between them.