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Questions and Answers
Demand for a product is always constant and does not change over time.
Demand for a product is always constant and does not change over time.
False (B)
Factors affecting demand change are only related to price changes.
Factors affecting demand change are only related to price changes.
False (B)
Changes in consumer preferences can affect demand for a product.
Changes in consumer preferences can affect demand for a product.
True (A)
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Study Notes
Demand and Its Factors
- Demand for a product is not always constant and can change over time.
- Factors affecting demand are not only related to price changes, but also include other variables.
- Changes in consumer preferences are one of the factors that can affect demand for a product.
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