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Change in consumer Taste/preference:Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to increase whilst declining taste or preference causes demand to fall, ceteris paribus. Taste or preference for goods and services are influenced by advertisement, fashion and sales promotions. Change in consumer expectationsThe decision to buy a commodity today is influenced by the expected future price of the commodity and expected change in consumer income. If a consumer anticipates the price of a commodity to increase in future, today’s demand for the commodity will increase but if the consumer anticipates a fall in future price, then today’s demand for the commodity will fall.Similarly, an expected consumer income increase may cause demand for a normal commodity to increase and vice versa.
illustrate and explain the changing demand gor big Mac using the indifference curves and budget line
Managers: Top directors and managers of larger companies who are assigned the task of organizing disciplining workers, initiating production and accounting to shareholders for perf
Proportion of Workers in Organised and Unorganised Workers: Increasing share of employment in unorganised sector reflect the deterioration in the quality of employment because
what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?
why does gap between the ATC curve and the AVC curve decreases as the level of output increases
What is Economics Trade Analysis?
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
Briefly discuss the components of macroeconomics system with suitable explanation
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
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