what is change in demand ? state any three factor that can cause shift in the demand curve
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The factors are as follow 1)Change in Income Level of Buyers 2)Change in Consumer Tastes or Preferences 3)Changes in Prices of Related Goods.Change in demand describes a change or shift in a market's total demand. Change in demand is represented graphically in a price vs. quantity plane, and it is a result of more or fewer entrants into the market and changes in consumer preferences. The shift can either be parallel or nonparallel.
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