Commodities' Preferences and Determinants of Demand Among University Students in Nigeria

Abstract

The study investigates preferences for commodities and determinants of demand among the students of Obafemi Awolowo University, Ile-Ife, Nigeria. Out of 140 respondents, 91% reveals that they prefer food items to all other items, 87% preferred academic books and other literature, 78% indicates a preference for credit cards, internet data plans, and other mobile subscriptions. Sixty-six percent (66%) disclosed their preference for hairstyles, 64% preferred clothing and foot wares, 63% preferred to save, 61% preferred mobile devices and technologies and 53% preferred medical care services. However, majority of the respondents reveals less preference for jewellery and cosmetics (69%) as well as parties and entertainments (82%). In addition, the study reveals that there are a number of factors that determine a student's demand for commodities. The study found students’ income as a very important determinant, while prices, taste, time and savings were rated as important determinants of demand among university students in Nigeria.