Which of the following factors is not a cause of change in demand? Changes in...
ECONOMICS
WAEC 2022
Which of the following factors is not a cause of change in demand? Changes in
- A. the size of the population
- B. price of the commodity
- C. income distribution
- D. taste and fashion
Correct Answer: B. price of the commodity
Explanation
Change in demand is also known as shift in demand. A change / shift in demand is caused by taste, income of the consumer, population size, festival, price of other commodities etc.
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