Business Studies, asked by shariq1760, 1 year ago

How does the income of the consumer affect the demand of a commodity?

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Answered by Anonymous

If income of a consumer increases, his purchasing power also increases andcan buy more units of a commodity(assuming price is constant) and ifincome decreases , purchasing power also decreases and so the consumerdecreases the demand of thecommodity. ... The demand for those will be increasing.

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