When estimating demand, price is not the only factor to be considered. Three other elements emphasized by economists are consumer tastes, price and availability of similar products, and
A)consumer income.
B)consumer psychographics.
C)size of the target market.
D)current political agendas.
E)green substitutes.

Question

Quizplus · Accepted Answer

Consumer income is one of the three factors emphasized by economists to consider along with consumer tastes and price and availability of similar products when estimating demand. The other choices are not directly related to the estimation of demand.

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