5 Questions
Which of the following is NOT a factor that influences demand?
Price of the commodity
What is the term for the change in the quantity demanded of a commodity due to a change in the price of a related commodity?
Cross-price effect
Which of the following factors influences demand, but does not directly affect the quantity demanded?
Tastes and preferences
What is the relationship between the demand for a commodity and the price of its substitutes?
Inversely proportional
Which of the following is a factor that influences demand, particularly for normal goods?
Consumer's income
This quiz assesses your understanding of the factors that affect demand in economics. Test your knowledge of consumer behavior and market forces.
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