Question

Explain the effect of rise in a consumer on his demand for good.​

Answer 1

Answer:

A rise in the price of a commodity reduces its demand and a reduction in its price increases the demand. Thus, demand is more at a lower price and less at a higher price. (ii) Income of the Consumer: In case of normal goods, demand increases with rise in the income of the consumer and falls when the income decreases.

Answer 2

Answer:

hiiii

Explanation:

In the case of normal goods, income and demand are directly related, meaning that an increase in income will cause demand to rise and a decrease in income causes demand to fall. For example, for most people, consumer durables, technology products and leisure services are normal goods.