Economics
WAEC 2014
A change in the quantity demanded of a given commodity is determined by the
-
A.
size of the population
-
B.
income of the consumer
-
C.
price of the commodity
-
D.
taste and fashion
Correct Answer: Option C
Explanation
A movement along a given demand curve caused by a change in demand price. The only factor that can cause a change in quantity demanded is price. A related, but distinct, concept is a change in demand. This change in quantity demanded is caused by a change in the demand price.
Report an Error
Ask A Question
Download App
Quick Questions
Contributions ({{ comment_count }})
Please wait...
Modal title
Report
Block User
{{ feedback_modal_data.title }}