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DETERMINANTS….

               PRICE ELASTICITY OF DEMAND

                   •  AVAILABILITY OF SUBSTITUTES


                   •  TYPES OF PRODUCTS

                   •  PROPORTION INCOME SPENT ON GOOD

                   •  TIME PERIOD CHANGE CONSUMER’S TASTES




               PRICE OF ELASTICITY OF SUPPLY

                   •  AVAILABILITY OF RESOURCE OF SUBSTITUTION

                   •  TIME TAKEN TO PRODUCE THE GOODS

                   •  ABILITY TO STORE THE GOODS
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