Explain the chain of effect of …

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Explain the chain of effect of increase in demand of a good?

Posted by Isha Kumari 5 years, 10 months ago

CBSE > Class 11 > Economics

1 answers

Raj Kumar 5 years, 10 months ago

Increase in demand cause a situation of excess demand Due to excess demand price will rise Rise in price leads ton extension of supply and contraction of demand This process will continue til the producer will get a new equilibrium point

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