Question

Q. 8. Categorise the following changes as expansion, contraction, increase or decrease in demand
(assuming the given commodity is a normal good):
(i) When prices of a substitute rises.
(ii) When price of the given commodity increases.
(iii) When income of the consumers increases.
(iv) When price of the given commodity is expected to fall in future.
(v) When the given commodity becomes a fashion good.
(vi) When there is sudden decrease in population due to an earthquake.
(vii) When the price of the given commodity falls.​

Answer 1

Explanation:

7

Price of complementary goods, the demand for given commodity falls and Due to rise in price of commodity x the demand of commodity falll.

Answer 2

Answer:

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