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 KCSE business studies paper 1 revision questions and answers Set 1

Identify the factors that may lead to an increase of demand of a product in the market.

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Answer Text:
-Increase in the income of consumers
-Drop in the price of the product
-Increase in price of substitute goods
-Subsidies by the government and lowering prices
-Increase in population
-Future expectation of increase of prices of the commodity
-increase of the supply of the product


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