ICSE Class 10CISCE
Share
Notifications

View all notifications

State Two Factors Affecting the Market Demand of a Commodity. - ICSE Class 10 - Economics

Login
Create free account


      Forgot password?

Question

State two factors affecting the market demand for a commodity.

Solution

Two factors affecting the market demand for a commodity:

  • The pattern of income distribution: If the income distribution moves in favour of the poor people, the demand for commodities would increase among those people. On the other hand, if most of the national income is concentrated with rich people, the demand for luxury goods would increase among those people. So, the pattern of income distribution affects the market demand for a commodity.
  • Climatic condition: During the winter season, the demand for woollen clothes increases. During the summer season, the demand for cotton clothes increases. Hence, the climatic condition affects the market demand for a commodity.
  Is there an error in this question or solution?

APPEARS IN

 2013-2014 (March) (with solutions)
Question 2.1 | 2.00 marks
Solution State Two Factors Affecting the Market Demand of a Commodity. Concept: Concept for Demand and Supply.
S
View in app×