What are the two variable needed to calculate demand? - Answers

The two key variables needed to calculate demand are price and quantity. Price refers to the amount consumers are willing to pay for a good or service, while quantity represents the amount that consumers are willing and able to purchase at that given price. The relationship between these variables typically forms the basis of the demand curve, illustrating how demand changes with varying prices. Additionally, factors like consumer preferences and income can also influence demand, although they are not direct variables in the basic calculation.