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प्रश्न
If a buyer buys less of a commodity when his income falls, how will his demand curve change? Illustrate your answer with a diagram.
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उत्तर
A buyer will buy less commodities with a fall in income for a normal good. Such a situation is known as a decrease in demand. The given figure represents the situation of a decrease in demand A decline in demand due to a drop in income leads the demand curve to shift downhill or leftward.
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संबंधित प्रश्न
With help of an example explain the term complementary goods.
Explain clearly two factors which determine demand.
What will be the effect on demand for tea, if the price of coffee falls?
What will be the effect on demand for cars, if petrol becomes expensive?
Explain any four factors which determine the market demand.
State 2 types of related goods.
Define substitute goods.
Give two examples of substitute goods.
Define complementary goods.
Give two examples of complementary goods.
