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Explain the factors which would affect the price of a good.
As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shifts in demand and/or supply will influence the market price. It is significant that rote-memorised factors are not simply tossed in, but founded on examples. For instance, the price of other goods will affect the price of a good - A fall in the price of DVD rentals might decreasedemand for purchasing DVDs, which could ultimately lower the price of purchasing DVDs.
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a) An enhances in the quantity demanded of a good can happen because consumers expect the price of that good to enhance in the near future. b) A price ceiling imposed above the
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