All the following factors will cause a change in demand except
-
A.
the consumer’s income -
B.
the consumer’s taste -
C.
a change in population size -
D.
a change in weather condition -
E.
the price of commodity
Correct Answer: Option E
Explanation
The price of the commodity does not lead to a change in demand, but rather, it will cause a change in the quantity demanded.
Note that a change in demand and a change in quantity demanded are two different terminologies.
A change in demand means that the entire demand curve shifts either left or right. While a change in quantity demanded refers to a movement along the demand curve, which is caused only by a change in price.