Endogenous determinants of demand include:
A)competitor prices.
B)the weather.
C)interest rates.
D)price.

Question

Quizplus · Accepted Answer

Endogenous determinants of demand are factors that originate within the market and affect consumers' willingness and ability to buy a product or service. Price is one of the key endogenous determinants of demand, as an increase in price will typically result in a decrease in demand due to the law of demand. Endogenous determinants of demand are factors that are internal to the market and directly affect the quantity demanded of a good or service. Price is one such factor, as a change in price will result in a change in the quantity demanded. The other options, competitor prices, the weather, and interest rates, are all exogenous determinants of demand as they are external factors that affect demand but are not directly related to the market or the particular good or service being sold.

Endogenous Determinants of Demand Include