WAEC Economics 2015 Objective — Question 15
Question 15 of 50 from the West African Examinations Council (WAEC) Economics 2015 Objective paper, with the correct answer and a full explanation.
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Which of the following will not affect the market price of a commodity?
- A. Increase in demand
- B. Change in tastes
- C. Intersection of demand and supplyCorrect
- D. Increase in supply
Explanation
The intersection of demand and supply determines the equilibrium price itself; it is not an external factor that causes price to change - changes in demand, supply, or tastes are what shift the curves and change price.
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