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WAEC Economics 2014 Question 42

Question 42

Theory of Demand

A change in the quantity demanded of a given commodity is determined by the

  1. A.size of the population.
  2. B.income of the consumer.
  3. C.price of the commodity.
  4. D.taste and fashion.
Show the answer and explanation

Answer: C (price of the commodity.)

Explanation

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