Question

Study the responsiveness of demand for commodities like salt,matchboxes,candles,television,foodgrains with respect to income level of five families. i am prepare a project .i have introduction,need & importance,objectives. Methodology-survey work,personal interviews. Project presentation ,conclusions

Answer 1

The inferior goods like the match box has got no change in its demand despite the changes in its market price since the value of their costs is normally very low.

When it comes to luxuries such the television, the demand may increase with the increase in price since its value and fashion is considered odg the best quality.

The basic comodities demand will tend to be constant due to their daioly needs.