Tag Archives | Determinants

Determinants of Demand: 5 Determinants | Goods

The following points highlight the five determinants of demand. The determinants are: 1. The Price of the Commodity 2. The Prices of Related Goods (i.e., Substitutes and Complements) 3. The Income of the Buyer 4. Tastes and Preferences of the Buyer 5. Other Factors. Determinant # 1. The Price of the Commodity: The price of a commodity is the primary [...]

By Nipun S|2017-01-13T05:58:25+05:30January 13, 2017|Demand|Comments Off

Elasticity of Labour Demand: 4 Major Determinants

The following points highlight the four major determinants of the elasticity of labour demand. The determinants are: 1. The Availability of Good Substitutes 2. Elasticity of Demand for the Products of Unionized Firms 3. The Proportion of Labour Cost in Total Cost 4. The Elasticity of Supply of Substitute Inputs. Determinant # 1. The Availability of Good Substitutes: When it [...]

By Samia Rekhi|2016-05-16T07:49:58+05:30May 16, 2016|Elasticity of Demand|Comments Off