Question

What will be effect on interior commodity when income of consumer rises?

Answer 1

when income of a consumer rises then their will be increase in prices then it leads to inflation and the poor people cannot afford those things by the GDP growth will be decreased and at last the country will decreased in developing

Answer 2

For most goods, there is a positive and changing to direct relationship between a customer and income and the amount of good.

This is willing and able to buy and in other words these goods are taken with income rises.

The demand for the product is increasing and when income falls and product will decrease accordingly.