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

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