JAMB - Economics (2012 - No. 4)
If the quantity of rice bought decreases from 250 tonnes to 200 tonnes owing to a 2% rise in price, it shows that there is a change in
consumers' income
demand
consumers' tastes
quantity damanded
Explanation
A change in quantity demanded refers to a change in the specific quantity of a product that buyers are willing and able to buy usually caused by a change in the price. From the question above, a rise in prise led to a corresponding change in the quantity demanded from 250 to 200 units.
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