Economy, asked by golurawatrawat624, 8 months ago

explain with the help of diagram the effect of the following change on the demand of commodity
. a fall in price of subsitute goods
. a favourable change in the taste of buyers

Answers

Answered by Anonymous

3

Answer:

Demand for a commodity will decrease when there is a fail in the price of substitute goods. Implying that demand curve would shift backward: less will be purchased at the same price. ... This would imply a backward shift in demand curve: less goods will be purchased at the same price.

Previous Question

Next Question

Similar questions

Physics, 4 months ago

phase space definitions...

Math, 4 months ago

N 20. Evaluate the following for a = 4 and b (a) a'+b: - ab (b) a b + ab a-b (c) tab a + b (d) (a+b)-(a - b)...

Science, 4 months ago

How will you prove that light travels along a straight line.

Math, 8 months ago

converts the equation into simple form and solves it...

English, 8 months ago

The gift given by Manjula’s mother was a set of artist’s ………………...

English, 11 months ago

Use all or both in the blanks. Tell your partner why you chose one or the other. (i) He has two brothers. _________ are lawyers. (ii) More than ten persons called. _________ of them wanted to see you. (iii) They ____________ cheered the team. (iv) ___________ her parents are teachers. (v) How much have you got? Give me ___________ of it.

English, 11 months ago

Put the verbs in the brackets into their proper forms. The first one is done for you. (i) We (get out) of the school bus. The bell (ring) and everyone (rush) to class. We got out of the school bus. The bell was ringing and everyone was rushing to class. (ii) The traffic (stop). Some people (sit) on the road and they (shout) slogans. (iii) I (wear) my raincoat. It (rain) and people (get)...

English, 11 months ago

Complete each sentence below by using appropriate phrase from the ones given below. sure enough colourful enough serious enough kind enough big enough fair enough brave enough foolish enough anxious enough (i) I saw thick black clouds in the sky. And ___________ ___________ it soon started raining heavily. (ii) The blue umbrella was ___________ ___________...