JAMB - Economics (2016 - No. 38)
One of the factors affecting change in demand for a commodity is the _______?
Supply of the commodity
Availability of the substitutes
Price of the commodity
Technical know-how
Explanation
- Tastes and Preferences of the Consumers
- Income of the People:
- Changes in Prices of the Related Goods
- Advertisement Expenditure:
- The Number of Consumers in the Market
- Consumers' Expectations with Regard to Future Prices