Question

Consider the market for cars. suppose buyers expect that new regulations set to go into effect next year will lead to. in this case, the non-price determinant of demand that is currently changing is:______

Answer 1

Answer: Preferences and taste

Explanation:

   The preferences and the taste are the characteristics in the business that are changed according to the customer requirement for the various types of products and the services in an organization.

The preferences is one of the main factors which helps in influencing the user or the customers demand.

According to the given question, the non-pricing determinant of the demand is changing according to the preferences and the taste of the consumer as the requirement of the user are get changed in the market.

Therefore, Preferences and taste is the correct answer.