A change in the quantity demanded of a given commodity is determined by the

Assessment: WAEC SSCE - Economics - 2014 (Objective) Subject: Economics

Question 1 Report

A change in the quantity demanded of a given commodity is determined by the

Answer Details
The change in the quantity demanded of a given commodity is primarily determined by the price of the commodity. As the price of the commodity changes, the quantity demanded by consumers may increase or decrease, resulting in a movement along the demand curve. Other factors, such as the size of the population, income of the consumer, taste and fashion, can also affect the demand for a commodity, but these factors cause a shift in the demand curve rather than a movement along it.

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