Other things being equal, the higher the price of the commodity, less is the quantity demanded and

lower the price, more is the quantity demanded.

When price rises, demand falls and when price falls, demand rises. Demand varies inversely with price

Demand curve is a downward sloping demand curve to brings out the negative relationship

1. Giffen Goods : rice & wheat from maize & jowar

2. Articles of Snob Appeal : Jewelry, Luxury.

3.Expectations regarding future prices : Shares

4. Emergencies : war, famines.

Price of the Product Income & Income distribution Number & Price of related goods (substitutes & complements) Consumer tastes, preferences, needs, etc. Population-Structure & Distribution Future price expectations of consumers

Price of a commodity Income of the consumer Price of related goods Substitute goods (Tea and Coffee) & Complementary goods (Car and Petrol) Taste and preferences of the consumer Black & White T.V. seta are replaced by color T.V. sets Age structure and sex ratio of the population Advertisements and sales techniques Numbers of buyers in the market. Consumer expectations

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