Non Price
Determinants:
- price
of related goods—substitutes
- A change in the price
of one good can change the demand for another good. One type of related goods
is substitutes-goods that are bought in place of one another. If the price
of movie tickets increases, the demand for video rentals may increase. If
the price of Hamburger Heaven's hamburgers decreases, the demand for Big Burger's
hamburgers may decrease.