Exam ICWIM Topic 1 Question 45 Discussion

Actual exam question for CISI's ICWIM exam
Question #: 45
Topic #: 1
What is the most likely effect on the demand curve of an increase in consumer preference for a good?

Suggested Answer: C Vote an answer

* Effect of Increased Consumer Preference:
* When consumer preference for a good increases, demand rises at all price levels, leading to a rightward shift in the demand curve.
* The rightward shift reflects higher quantity demanded at each price point.
* Elimination of Other Options:
* A & B: Movements along the curve (upward or downward) occur due to price changes, not preference shifts.
* D: A leftward shift indicates reduced demand, contrary to the scenario presented.
References:
* ICWIM Module 3: Microeconomics: Demand and supply curve analysis.

by Burgess at Jan 26, 2025, 11:45 AM

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