Answer: The four variables which alter it are:
- The price of the good in question: the more expensive a product is, the lower its demand will normally be.
- The price of related goods:
- Complementary: they are goods that are consumed together, it is not possible to consume one without also consuming the other.
- Substitutes: those whose consumption is exclusive to each other, to consume one implies not to consume the other, since both satisfy the same need.
3. The disposable income.
4. Consumer preferences: tastes, preferences and fashion determine the behavior of the applicants regardless of prices or income.
Step-by-step explanation:
Demand is the quantity of a good or service that the applicants are determined to acquire at a certain price and conditioned by a series of factors.
Individual demand is defined as the quantity and quality of goods and services that can be acquired by a consumer.