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CBSE Class 11-commerce Answered

Define market demand.Explain the factors that affect it.
Asked by gillnirmal1606 | 29 Jul, 2019, 04:37: PM
answered-by-expert Expert Answer

Market demand refers to the aggregate demand for a commodity in the market.

Market demand is affected by all the factors that affect individual demand and  the following factors:

1. Size of population- Increase in population raises the marker demand and decrease in population decreases market demand.

2. Distribution of income- If income in the country is equally distributed, then the demand for commodities will be more and vice versa.

3. Season and Weather- The seasonal and weather conditions also affect the market demand for a commodity. For example market demand for umbrellas during monsoon.

 

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