a. The individual’s taste and preference of buyers.
Demand can be described as the economic principle that shows the consumer’s desire to buy goods and services by paying the amount that has been specified for the service. The concept of demand will help one to understand that the reason why anyone would want to pay the specified price for an automobile would be based on their taste and preference. Automobiles come in various designs and qualities. The choice an individual makes would always be based on what qualities they prefer in a vehicle. A client might value an automobile that is expensive but fragile, over a car that is cheap but durable.