Question : How do consumer tastes and preferences affect a commodity's demand directly?
Option 1: Changes in the Supply of a commodity
Option 2: Changes in the Consumer’s behavior
Option 3: Changes in the price of the overall market
Option 4: Changes in Fashion
Answer (1)
25th Jan, 2024
Correct Answer: Changes in Fashion
Solution :
A commodity's demand is also influenced by consumer tastes and preferences. It increases when the consumer's tastes and inclinations change favorably, and vice versa.
It changes with fashion.
Hence option d is the correct answer.
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