Which one of the following does not influence quantity demanded for a good ?
Good's own price
Price of a complementary good
Price of a substitute good
Prices of inputs into production of the good
Answer is Wrong!
Answer is Right!
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.