Question : What demonstrates the causal link between quantity demand and its driving factors?
A: Government Policies
B: Taste and Preferences
C: Price of Related Goods
Option 1: A only
Option 2: B only
Option 3: B and C only
Option 4: A, B, and C
Answer (1)
25th Jan, 2024
Correct Answer: A, B, and C
Solution :
The demand function shows the functional relationship between the Quantity demanded of a commodity and its various Determinants.
Its various determinants are:
A: Government Policies
B: Taste and Preferences
C: Price of Related Goods
D: Income of Consumer
Hence D is the correct answer.
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