When estimating demand, price is not the only factor to be considered. Three other elements are emphasized by economists, one of which is
A) consumer tastes.
B) legislative changes.
C) size of the target market.
D) current political stability.
E) promotional methods.

Question

Quizplus · Accepted Answer

Consumer tastes are a key factor in estimating demand as they directly influence consumer preferences and purchasing decisions.

When Estimating Demand, Price Is Not the Only Factor to Be