raheeqamdeen raheeqamdeen
  • 05-03-2018
  • Business
contestada

What are two variables needed to calculate demand?

Respuesta :

andriansp andriansp
  • 05-01-2019

the answer is: Price and quantity

Price refers to the monetary value needed to obtain the product while quantity refers to the amount of the product in the market.

As the price goes up, typically demand would fall since there would be less people that can afford to buy that products. As the quantity decreased, the product become scarce and this would increase the number of the demand of that  product.

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