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WAEC Economics 1999 Question 42

Question 42

Theory of Demand

The quantity demanded of a commodity is influenced only by changes a

  1. A.tastes
  2. B.weather
  3. C.price of the commodity
  4. D.prices of other commodities
Show the answer and explanation

Answer: C (price of the commodity)

Explanation

A change in quantity demanded (movement along the curve) is caused only by a change in the good's own price.