Question 3

Explain how the following factors will affect the demand for a commodity X:

(a) a decrease in the price of a implement Y; [5 marks]

(b) an increase in consumers' disposable income; [5 marks]

(c) a decrease in the apply of a substitute P; [5 marks]

(d) an increase in income tax. [5 marks] )

Theory

Question details

Exam body
WAEC
Subject
Economics
Year
2012
Question no.
#3
Type
Theory

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