All the following factors will cause a change in demand e...
All the following factors will cause a change in demand except
The consumer's income
The consumer's taste
A change in population size
A change in weather condition
The price of commodity
Correct answer is E
The price of the commodity does not lead to a change in demand, but rather, it will cause a change in the quantity demanded.
Note that a change in demand and a change in quantity demanded are two different terminologies.
A change in demand means that the entire demand curve shifts either left or right. While a change in quantity demanded refers to a movement along the demand curve, which is caused only by a change in price.
The logical sequence of basic concepts in economics is ...
Which of the following will not affect the market price of a commodity? ...
Under flexible exchange rates, a deficit could be corrected by ...
The OPEC marketing policy of fixing minimum price allows members to ...
An improvement in a country's terms of trade means that the ...
A list of consumer's wants arranged in order of priorities is known as ...