A change in which variable will change the market demand for a product?
A) The price of the product
B) Population
C) Technology
D) The prices of substitutes in production

Question

Quizplus · Accepted Answer

Population has a direct effect on the market demand for a product. An increase in population leads to an increase in demand for the product and a decrease in population leads to a decrease in demand for the product.

Note: While A, C, and D can have an indirect effect on market demand by affecting factors such as the availability and affordability of the product, they do not directly change the market demand for the product.

A Change in Which Variable Will Change the Market Demand