When there is large quality of food items in the market with other factors remaining constant, demand

Assessment: WAEC SSCE - Agricultural Science - 1993 (Objective) Subject: Agricultural Science

Question 1 Report

When there is large quality of food items in the market with other factors remaining constant, demand
Answer Details
When there is a large quantity of food items in the market, and other factors remain constant, the demand will increase, and the price will decrease. This is because there is more supply than demand, and the sellers will try to attract buyers by reducing the price of the food items. When there is an abundance of food items in the market, buyers have more options to choose from, and they can afford to be more selective. Therefore, sellers have to compete with each other to sell their products, and they may lower the prices to attract customers. On the other hand, if the demand decreases, and the quantity of food items remains the same, the sellers may increase the prices of the food items to maintain their profit margins. This is because they have fewer customers to sell to, and they need to make up for the lost revenue. Therefore, the correct answer is "demand will increase, and price will decrease."

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