Question on: JAMB Economics - 2014
A
consumers income and change in technology
B
price of the commodity and weather conditions
C
consumers income and population size
D
consumers taste and change in price
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Correct Option: D
The shift from DoDo to D1D1 represents a change in demand. The factors that cause a shift in demand are:
- Consumers' income: An increase in consumer income generally leads to an increase in demand for normal goods, shifting the demand curve to the right.
- Population size: An increase in population size leads to an increase in the overall demand for goods and services, causing a rightward shift in the demand curve.
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