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

By: |Published on: Oct 21|Categories: Economics JAMB| 0 comments

A. Supply of the commodity
B. Availability of the substitutes
C. Price of the commodity
D. Technical know-how

Correct Answer:

Option C – Price of the commodity

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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