Navsari Agricultural University
Demand Function:
----------------

The demand for any commodity mainly depends on the price of that commodity. The other determinants include price of related commodities, the income of consumers, tastes and preferences of consumers, and the wealth of consumers. Hence the demand function can be written as under:

Dx = f (Px, Ps, Y, T, W, …)

Where,

Dx = demand for good X
Px = price of good X
Ps = price of related goods (other thanX)
Y = income of the consumer
T = tastes and preferences of the consumer
W = wealth of the consumer.

� 2013 Agricultural Educatorium, Navsari Agricultural University, Navsari. All Rights Reserved Managed by: IT Cell, Navsari Agricultural University, Navsari.