Question

One factor that influences demand is a consumer's ability to buy a good. What is required for a consumer to have the ability to purchase a good?

desire
income
preference
taste

Answer 1

The correct answer is **income**. A consumer needs sufficient income to purchase a good, as it directly affects their ability to afford it. While desire, preference, and taste are important factors in a consumer's decision-making process, they do not determine the ability to buy. Income is the key factor that enables consumers to make purchases.