Question

what is fall in demand ?​

Answer 1

Answer:

There is fall in demand when consumptions of commodity remain the same but there is decrease in price of that commodity. The consumers were buying 1kilograms rice at the rate of $10 per kilogram. The price of rice decreases from $10 to $5 per kilogram. The consumption of rice remain the same at 10 kilogram. There is fall in demand in this case.

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Answer 2

Answer:

A decrease in demand means that consumers plan to purchase less of the good at each possible price.The price of related goods is one of the other factors affecting demand. A decrease in demand will cause a reduction in the equilibrium price and quantity of a good.