Explain the causes behind law of demand?
class11 Commerce .
Subject:- Eco
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distinguish between perfectly elastic & perfectly inelastic demand in tabular form
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There are several causes behind the law of demand like
1- The income effect
2- The substitution effect
3- Changes in the taste and preference pattern of the consumer
4- Changes in the price of related commodities
1- The income effect
2- The substitution effect
3- Changes in the taste and preference pattern of the consumer
4- Changes in the price of related commodities
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