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A.
Income
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B.
Taste and fashion
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C.
Population
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D.
Price of other commodities
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E.
Price of the commodity concerned
Correct Answer: Option E
Explanation
A change in demand means a change in consumers' desire to purchase a particular good or service, irrespective of a change in its price.
The following are the factors affecting a change in demand
- The Consumer's Income.
- The Price of Related Goods.
- The Tastes and Preferences of Consumers.
- The Consumer's Expectations.
- The Number of Consumers in the Market.
From the above explanation, the price of the commodity does not affect the willingness of the consumer to purchase the commodity, hence option E is the correct option.
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