Which one of the following does not influence quantity demanded for a good ?
[amp_mcq option1=”Good’s own price” option2=”Price of a complementary good” option3=”Price of a substitute good” option4=”Prices of inputs into production of the good” correct=”option4″]
This question was previously asked in
UPSC CDS-1 – 2022
– Good’s own price causes a movement along the demand curve.
– Price of a complementary good and Price of a substitute good shift the demand curve.
– Prices of inputs into production (like labour, raw materials) affect the cost of production. This influences the supply side, shifting the supply curve. It does not directly affect the quantity demanded by consumers at any given price.