"Demand refers to the amount of a particular commodity or service that a consumer or group of consumers wants to buy at a given price. It refers to a customer's ability or willingness to purchase a given item. The price and quantity are related to the demand function. It depicts the number of units of a product that will be purchased at various pricing. When prices are greater, fewer units are purchased. The following are the important determinants that influence the demand function: • Earnings The demand curve will tend to grow as consumer income rises (shift the demand curve to the right). The demand for ordinary items will tend to fall as a result of the drop. • Consumer Preferences A favorable change increases demand, whereas a negative change decreases demand. • Buyers Number The greater the number of buyers, the greater the demand. Demand falls as a result of fewer customers. • Substitute Goods (goods that can be used to replace one another): The price of substitutes and demand for the other good are linked. For example, as the price of coffee grows, so will the demand for tea. • Complementary Goods (items that can be used in conjunction): Prices and demand for complementary goods are inversely connected. For instance, if the price of a printer rises, the need for computer sheets falls."

Jincy Anna Joy

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