JAMB - Economics (2024 - No. 32)
Which of the following is NOT a factor that brings about changes in demand?
the price of the good or service
a change in real income
government policy
increase in population
Spiegazione
Changes in the price of a good or service do not bring about changes in demand; rather, they affect the quantity demanded. Changes in demand refer to shifts in the entire demand curve, which are caused by factors other than the price itself.