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Question
Which of the following is not a determinant of demand?
Options
Income of the consumer
Price of the product
Price of related goods
Technology used to produce the goods
Size of population
Solution
Technology used to produce the goods
Explanation:
Technology used to produce the goods is not a determinant of demand; rather, it is a determinant of supply. Demand determinants typically include factors like the income of the consumer, the price of the product, and the price of related goods (substitutes and complements). These factors influence a consumer's willingness and ability to purchase a good, which affects the demand for that good.
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