NABTEB Economics 2024 Objective — Question 11
Question 11 of 50 from the National Business and Technical Examinations Board (NABTEB) Economics 2024 Objective paper, with the correct answer and a full explanation.
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The movement from points x to z might have been caused by
- A. A. a change in taste in favour of milkCorrect
- B. B. a decrease in price of milk
- C. C. an increase in income of consumers
- D. D. a favourable weather condition
Explanation
The movement from point X to Z is known as an expansion (extension) of demand and this occurs as a result of a decrease in the price of the commodity itself. However, a contraction is the opposite and it occurs as a result of an increase in the price of the commodity.
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