O-LevelEconomicsMicroeconomic decision makers2281/12 · May/June 2021 · Q51 Mark

What determines a consumer's demand for a product? [Table 5]

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Athe consumer's income: ✓, the consumer's willingness to buy the product: ✓, the price of the product: X

Bthe consumer's income: ✓, the consumer's willingness to buy the product: ✓, the price of the product: ✓

Cthe consumer's income: X, the consumer's willingness to buy the product: ✓, the price of the product: ✓

Dthe consumer's income: X, the consumer's willingness to buy the product: X, the price of the product: ✓

✓ Correct answer

A: the consumer's income: ✓, the consumer's willingness to buy the product: ✓, the price of the product: X

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2021 Paper 1 Variant 2, question 5.

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