Question : EXCEPT for the one, the following are the causes of a shift in demand:
A: Change in income
B: Change in price
C: Change in prices of substitutes
D: Change in fashion
Option 1: B only
Option 2: B and C only
Option 3: A, B, and C only
Option 4: A, B, C, and D
Answer (1)
26th Jan, 2024
Correct Answer: B only
Solution :
Except for price changes, the following are the causes of a shift in demand. A shift in the demand curve occurs when a demand determinant other than price changes. A shift to the left reduces demand, and vice versa.
Hence option a is the correct answer.
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