Which of the following is a determinant of demand for a good?
A) Consumer income.
B) The number of available workers.
C) Prices of factor inputs.
D) Technology.

Question

Quizplus · Accepted Answer

Consumer income is a determinant of demand for a good because as consumers' income increases, they are likely to have a higher purchasing power which can increase their demand for goods and services. Conversely, if consumers' income decreases, their demand for goods and services may decrease as well.

B, C, and D are not determinants of demand as they do not directly impact the willingness and ability of consumers to buy a good. The number of available workers, prices of factor inputs, and technology may impact the supply of a good or service, but they do not impact the level of demand for that good or service.

Which of the Following Is a Determinant of Demand for a Good