Question

State two factors affecting the market demand of a commodity.

Answer 1

Factors affecting market demand are as follows:
$\left(1\right)$ Price of the Product: As price rises, the demand falls and vice-versa.
$\left(2\right)$ Consumer's Taste and Preference: As tastes and preferences shift from one commodity to the other, demand for the first commodity reduces and that of the other commodity rises.