passwella.
Menu

Unilorin Post-UTME Economics 2023 (Model questions) Question 3

Question 3

Theory of Demand

A shift in demand curve for a good may result from ________

  1. A.a change in the price of the good
  2. B.a movement in the upward direction along the demand curve
  3. C.a change in the price of other goods
  4. D.a movement in the downward direction along the demand curve
Show the answer and explanation

Answer: C (a change in the price of other goods)

Explanation

A change in the good's own price only moves us along the curve. The whole curve shifts when another factor changes, such as the price of a substitute or complement.