Which of the following is NOT a non-price determinant of demand?

Study for the RECA Fundamentals Exam. Access flashcards and multiple choice questions with hints and explanations to prepare for your exam. Enhance your knowledge and readiness for success!

The correct choice is cost of production because it primarily influences the supply side of the market rather than the demand side. Non-price determinants of demand are factors that affect the quantity of a product demanded at any given price, while cost of production relates to the expenses incurred by producers to create a product, thus impacting supply.

Consumer preferences, the number of consumers, and expectations of future prices all relate to how demand shifts regardless of the current price of the good. Changes in consumer preferences can lead to increased or decreased demand, the number of consumers determines the overall market size, and expectations of future prices can affect current buying decisions as consumers anticipate future costs. These factors contribute directly to demand variations, unlike cost of production, which is focused on the supply chain and how much producers are willing to sell at various prices.

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