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प्रश्न
State two factors which determine the demand for a product.
अति संक्षिप्त उत्तर
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उत्तर
- Price of the Product: As the price decreases, demand usually increases, and vice versa. This is the basic law of demand.
- Income of the Consumer: Higher income generally leads to more demand for goods, especially normal and luxury goods. For inferior goods, demand may decrease as income rises.
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