Advertisement Remove all ads

When Does ‘Decrease’ in Demand Take Place? - Economics

Advertisement Remove all ads
Advertisement Remove all ads
Advertisement Remove all ads

When does ‘decrease’ in demand take place?

Advertisement Remove all ads

Solution

A decrease in the demand is caused by a change in the own price of the good but not other factors such as an increase in income, change in taste and preferences of the good. Diagrammatically, it is shown as a backward shift in the demand curve.

Concept: Demand
  Is there an error in this question or solution?
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×