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प्रश्न
Give two reasons for the shift of the demand curve towards the left.
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उत्तर
The demand curve may shift towards the left due to the following reasons:
- Fall in consumer's income.
- Fall in the price of a substitute for the good.
संबंधित प्रश्न
What is meant by an increase in demand?
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With the help of a graph explain the increase in demand concept.
Differentiate between extension and contraction of demand.
When the demand curve of a product shifts to the right, it represents a situation of ______.
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What is meant by an increase in demand?
State whether the following statement is true or false. Give reasons.
Contraction of demand is the result of a decrease in the number of consumers.
