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One of the factors affecting change in demand for a commodity is the _______?

Economics
JAMB 2016

One of the factors affecting change in demand for a commodity is the _______?

  • A. Supply of the commodity
  • B. Availability of the substitutes
  • C. Price of the commodity
  • D. Technical know-how
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Correct Answer: Option C
Explanation
  • Tastes and Preferences of the Consumers
  • Income of the People:
  • Changes in Prices of the Related Goods
  • Advertisement Expenditure: 
  • The Number of Consumers in the Market
  • Consumers' Expectations with Regard to Future Prices
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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