Question

Which best summarizes how consumer demand changes? Consumer demand changes over time based on few factors. Consumer demand changes often based on many factors. Consumer demand changes over time based on specific factors. Consumer demand changes often based on few factors?

Answer 1

Answer: Consumer demand changes often based on many factors.

Explanation:

Consumer demand refers to the quantity of goods demanded by the consumer at a given point in time. Demand for goods by the consumer can change due to many factors, like change in the price of the good, change in price of its related goods (Substitutes or Complements), change in the tastes and preferences, change in expectation of the consumers,etc.

Therefore, the answer is Consumer demand changes often based on many factors.

Answer 2

Answer:

B. Consumer demand changes often based on many factors.

Explanation:

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