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Which of the following are non-price determinants of demand?

a. number of sellers of a good or service
b. prices of inputs
c. prices of substitute goods
d. prices of complimentary goods

User Erik Lumme
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1 Answer

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Final answer:

The non-price determinants of demand that are not related to the number of sellers or prices of inputs include prices of substitute goods, prices of complementary goods, and changes in expectations about future prices or other demand factors.

Step-by-step explanation:

The non-price determinants of demand include prices of substitute goods, prices of complementary goods, and changes in expectations about future prices or other factors that affect demand. Prices of substitute goods can alter the demand for another product if a substitute becomes cheaper or more expensive. For instance, if the cost of butter rises, more consumers might buy margarine instead, increasing margarine's demand.

Prices of complementary goods also affect demand; when a complementary good becomes more expensive, the demand for the related good decreases. For example, if golf clubs become costlier, fewer people might buy golf balls since these items are often used together.

Lastly, changes in expectations about future prices can influence demand. If consumers anticipate a rise in the price of coffee, they might purchase more now, boosting the current demand for coffee.

User Vikram Ray
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