Question

A town recently experienced a population decrease. In three to four sentences, explain the effect of this population decrease on the demand for clothes and tell how this situation might affect the demand curve.

Answer 1

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Answer 2

Answer:

This diminution of the population will indeed reflect a reduction in demand for garment rates, although quantity fluctuations would also significantly boost until anything happened only with customers' cash, which is yet another issue until wages were dropped. Apparel use should be minimized till the population goes up to the extent where it can be characterized as a unit elastic, during which point customers can purchase fewer items instead of more.

Explanation:

Such variations in demand and availability will represent a gain or reduction in the quantity of demand and availability relative to its balance, which could be directly or inversely proportional to populations. It's possible that characteristics aside from the cost of the merchandise influence the amount of need, including consumer purchasing power, trends related, customer preferences, demographic, innovation, and so forth. These impacts of these variables modify economic consumption and availability of goods and services and indeed alters the demand and supply slope. Such changes could possibly impact here on price and quantity balance.

References - https://www.economicsdiscussion.net/law-of-demand/12-main-causes-of-changes-in-demand-for-a-commodity/13623