Question

increase in the demand of English goods​

Answer 1

Answer:

The change means an increase or decrease in the volume of demand and supply from its equilibrium. There exist some determinants other than the price of the commodity which affects the quantity of demand, like the income of consumers, the taste of consumers, preference of consumers, population, technology, etc. Due to the effects of these determinants, demand or supply of a product changes and demand and supply curve shifts. Such shifts affect the equilibrium price and quantity. Here now we are going to discuss changes in demand.