Advertisements
Advertisements
प्रश्न
Explain the effect of increase in income of the consumer on demand for a good.
स्पष्ट करा
Advertisements
उत्तर
The effect depends on the type of good. Demand for a normal good rises when income increases, while demand for an inferior good falls as the consumer shifts towards preferred alternatives. Demand for a necessity may change little or not at all.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
