{"id":89772,"date":"2025-06-01T10:12:24","date_gmt":"2025-06-01T10:12:24","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=89772"},"modified":"2025-06-01T10:12:24","modified_gmt":"2025-06-01T10:12:24","slug":"which-of-the-following-factors-affects-an-individuals-demand-for-a-co","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-factors-affects-an-individuals-demand-for-a-co\/","title":{"rendered":"Which of the following factors affects an individual\u2019s demand for a co"},"content":{"rendered":"

Which of the following factors affects an individual\u2019s demand for a commodity?
\n1. Price of the commodity
\n2. Income of the consumer
\n3. Prices of related goods
\nSelect the correct answer using the code given below:<\/p>\n

[amp_mcq option1=”1 and 2 only” option2=”2 and 3 only” option3=”1, 2 and 3″ option4=”1 only” correct=”option3″]<\/p>\n

\n
\n
This question was previously asked in<\/div>\n
UPSC CAPF – 2014<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nAn individual’s demand for a commodity is influenced by several factors. The price of the commodity itself affects the quantity demanded (movement along the curve). The income of the consumer affects purchasing power and preferences, shifting the demand curve (e.g., for normal and inferior goods). The prices of related goods, such as substitutes and complements, also affect demand, shifting the demand curve (e.g., if the price of a substitute rises, demand for the original commodity increases). Therefore, all three factors listed affect an individual’s demand.
\n<\/section>\n
\nThis question tests fundamental concepts in economics regarding the determinants of individual demand.
\n<\/section>\n
\nThe relationship between demand and these factors is typically represented by the demand function. Other factors that can influence individual demand include consumer tastes and preferences, expectations about future prices and income, and demographics. Market demand is the sum of individual demands.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Which of the following factors affects an individual\u2019s demand for a commodity? 1. Price of the commodity 2. Income of the consumer 3. Prices of related goods Select the correct answer using the code given below: [amp_mcq option1=”1 and 2 only” option2=”2 and 3 only” option3=”1, 2 and 3″ option4=”1 only” correct=”option3″] This question was … <\/p>\n

Detailed SolutionWhich of the following factors affects an individual\u2019s demand for a co<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1085],"tags":[1468,1120,1261],"class_list":["post-89772","post","type-post","status-publish","format-standard","hentry","category-upsc-capf","tag-1468","tag-economic-development","tag-nature-of-indian-economy","no-featured-image-padding"],"yoast_head":"\nWhich of the following factors affects an individual\u2019s demand for a co<\/title>\n<meta name=\"description\" content=\"An individual's demand for a commodity is influenced by several factors. The price of the commodity itself affects the quantity demanded (movement along the curve). The income of the consumer affects purchasing power and preferences, shifting the demand curve (e.g., for normal and inferior goods). The prices of related goods, such as substitutes and complements, also affect demand, shifting the demand curve (e.g., if the price of a substitute rises, demand for the original commodity increases). Therefore, all three factors listed affect an individual's demand. This question tests fundamental concepts in economics regarding the determinants of individual demand.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-factors-affects-an-individuals-demand-for-a-co\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which of the following factors affects an individual\u2019s demand for a co\" \/>\n<meta property=\"og:description\" content=\"An individual's demand for a commodity is influenced by several factors. The price of the commodity itself affects the quantity demanded (movement along the curve). The income of the consumer affects purchasing power and preferences, shifting the demand curve (e.g., for normal and inferior goods). The prices of related goods, such as substitutes and complements, also affect demand, shifting the demand curve (e.g., if the price of a substitute rises, demand for the original commodity increases). Therefore, all three factors listed affect an individual's demand. This question tests fundamental concepts in economics regarding the determinants of individual demand.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-factors-affects-an-individuals-demand-for-a-co\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T10:12:24+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Which of the following factors affects an individual\u2019s demand for a co","description":"An individual's demand for a commodity is influenced by several factors. 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This question tests fundamental concepts in economics regarding the determinants of individual demand.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-factors-affects-an-individuals-demand-for-a-co\/","og_locale":"en_US","og_type":"article","og_title":"Which of the following factors affects an individual\u2019s demand for a co","og_description":"An individual's demand for a commodity is influenced by several factors. The price of the commodity itself affects the quantity demanded (movement along the curve). The income of the consumer affects purchasing power and preferences, shifting the demand curve (e.g., for normal and inferior goods). The prices of related goods, such as substitutes and complements, also affect demand, shifting the demand curve (e.g., if the price of a substitute rises, demand for the original commodity increases). Therefore, all three factors listed affect an individual's demand. This question tests fundamental concepts in economics regarding the determinants of individual demand.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-factors-affects-an-individuals-demand-for-a-co\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2025-06-01T10:12:24+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-factors-affects-an-individuals-demand-for-a-co\/","url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-factors-affects-an-individuals-demand-for-a-co\/","name":"Which of the following factors affects an individual\u2019s demand for a co","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2025-06-01T10:12:24+00:00","dateModified":"2025-06-01T10:12:24+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"An individual's demand for a commodity is influenced by several factors. 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