Which one of the following does not influence quantity demanded for a good ?

examrobotsa's picture
Q: 60 (CDS-I/2022)

Which one of the following does not influence quantity demanded for a good ?

question_subject: 

Economics

question_exam: 

CDS-I

stats: 

0,130,190,40,101,49,130

keywords: 

{'quantity': [0, 0, 0, 1], 'complementary good': [0, 0, 0, 1], 'own price': [0, 0, 0, 1], 'substitute good': [0, 0, 0, 1], 'prices': [0, 5, 4, 14], 'production': [16, 4, 20, 51], 'inputs': [0, 0, 0, 5], 'price': [0, 3, 1, 12]}

The correct answer is option 4: Prices of inputs into production of the good.

Option 1, Good`s own price, does influence the quantity demanded for a good. Typically, as the price of a good increases, the quantity demanded decreases, and vice versa.

Option 2, Price of a complementary good, also influences the quantity demanded for a good. Complementary goods are products that are used together, such as peanut butter and jelly. If the price of a complementary good increases, the demand for the good in question may decrease, and vice versa.

Option 3, Price of a substitute good, also has an influence on the quantity demanded for a good. Substitute goods are products that can be used interchangeably, such as Coke and Pepsi. If the price of a substitute good decreases, the demand for the good in question may decrease, as consumers switch to the cheaper substitute.

Option 4, Prices of inputs into production of the good, do not directly influence the quantity demanded for a good. These prices may affect the supply and production costs of the good, but they do not directly impact the demand or quantity demanded by consumers.

Practice this on app