What factors are covered under ceteris paribus relation to demand of commodity?

Answer 1

Thing covered under Ceteris Paribus in relation to demand of commodity are-

1. Habits, tastes and fashions remain constant.
2. Income of the consumer does not change.
3. Prices of related goods remain constant.
4. Number of buyers remain constant.
5. The commodity is a normal good and has no prestige or status value.
6. People do not expect changes in the price.
7. Price is independent and quantity demanded is dependent.