Price of the good is one of the factors affecting the demand for a commodity.a.Falseb.True
Question
Price of the good is one of the factors affecting the demand for a commodity.a.Falseb.True
Solution
b.True
The price of a good is indeed one of the factors affecting the demand for a commodity. According to the law of demand, if all other factors remain equal, the higher the price of a good, the less people will demand that good. Conversely, the lower the price, the higher the demand. This relationship between price and demand is considered a fundamental principle of economics.
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