Explain the effect of the demand …

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Explain the effect of the demand :- (1) Increase in a income of a consumer (2) Rise in a price of subsitute goods

Posted by Rohit Gomber 7 years, 6 months ago

CBSE > Class 11 > Economics

1 answers

Keshav Bindal 7 years, 6 months ago

(1) Increase in income cause increase in demand for normal goods and decrease in demand for inferior goods. (2) Rise in price of Substitute goods causes increase in demand for the commodity.

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