Question

. Explain factors which may cause the demand curve to shift outward​

Answer 1

Answer:

Answer is below

Explanation:

Factors that may cause the demand curve to shift outward​ are:

1. changes in tastes and preference: when there is a change in taste for example commodity A, whereby people tend to enjoy its taste, the will be an outward shift in the demand curve of commodity A

2. income of the consumers: when the income of consumers increases, they tend to buy more of a certain commodity they enjoy, hence there will be an outward shift in that commodity's demand curve

3. prices of substitute or complement goods: for example, an increase in the price of a substitute will cause consumers to demand more for a particular commodity, hence, outward in demand shift curve occurs

4. expectations about future conditions and prices: when there is speculation about an increase in the price of an essential commodity or goods consumers enjoy, people tend to buy more in a given moment, hence there exists an outward shift in the demand curve

5. Population of consumers in the market: increase in the population of consumers of a certain commodity is directly proportional to an increase in demand of that commodity, hence there exists an outwards shift in the demand curve.