It is quantity demanded (and not demand for a commodity) that changes with respect to its own price.

Question

Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:

It is quantity demanded (and not demand for a commodity) that changes with respect to its own price.

Answer 1

Yes. It is quantity demanded of a commodity that changes in response to change in its own price. Change in demand occurs even when price of the commodity remains constant.