JAMB - Economics (2024 - No. 29)

An exceptional demand curve can result from
increase in price of raw materials
change in taste of consumer
increase in the size of the population
expectation of future price increase

Explanation

An exceptional demand curve can result from a change in the taste of consumers. When there is a shift in consumer preferences or a change in their tastes, it can lead to a significant and sudden change in the demand for a particular product. This can result in an exceptional demand curve, where the quantity demanded at each price point differs significantly from the previous demand curve.
For example, if a new trend or fashion becomes popular among consumers, the demand for related products may increas dramatically, causing an exceptional demand curve. Similarly, if there is a sudden decline in the popularity of a product due to changing tastes, it can result in an exceptional demand curve with lower quantities demanded at each price level.

Comments (0)

Advertisement