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If prices rise and income stays the same what is the effect on demand?
There would be less demand because people would not have the cash to pay for a lot of products. Less demand would mean more unemployment due to companies not moving their products, thereby having to lay off workers.
If the price rise and income stays the same what is the effect on demand?
There would be less demand because people would not have the cash to pay for a lot of products. Less demand would mean more unemployment due to companies not moving their products, thereby having to lay off workers.
What is the effect on demand if prices rise and income stays the same?
There would be less demand because people would not have the cash to pay for a lot of products. Less demand would mean more unemployment due to companies not moving their products, thereby having to lay off workers.
Why is Indian software is in demand globally?
1. Quality 2. Less Cost 3. Easily Available
What happens to the price when there is a shortage of products?
The prices increases, because the demand is higher for the product, since there is less of it.
How changes in consumer tastes and consumer incomes affect demand?
If consumer income increases, demand will increase. If income decreases, there is less money to spend, so demand for products that are not necessary will decrease. Consumer tastes influence what products are in demand. This can change over time, so a product that is in high demand may become a low demand product and visa versa.
Products whose demand remains unchanged regardless of their price?
Such products have an inelastic demand.
How did the baby boom affect the US economy?
Growing families increased the demand for products.
Why was there a demand for Indian indigo?
why there was ddemand for indian indigo
How does a decrease in consumer income cause the demand curve to shift left?
A decrease in consumer income leads to less money available for spending, causing people to buy fewer goods and services. This results in a leftward shift of the demand curve because there is less demand for products at each price level.
What two things make a product have value?
The principle of "supply and demand". If the supply of a product is higher than the demand, the product is worth less due to its availability. Conversely, if the demand exceeds the supply, then the products is worth more due to its rarity.
Why Indian rupee goes down?
Due to the fact that most modern currencies are built upon trust or acceptance of value, the Indian rupee went down due to speculation of a future downturn in economic growth or less demand for Indian goods.
