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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.
Current Cropping Pattern: It is evident from these data that foodgrains constitute the most dominant crop group that is cultivated in India. It is estimated that total croppe
traditional theory of cost
discuss how economic theory explains the optimum pattern of consumption of an individual consumer
what is fractional reserve and how does it affect money supply?
Cross-Price Elasticity of Demand is explained below: Cross price elasticity of the demand is the percentage change in the quantity demanded of a particular good, with respect t
1) Vitamin A Vitamin A has been chosen as the vitamin to be included in the supplement since it has a role in several functions some of which as follows: 1. Helps in proper vision.
How has the Haberler''s theory of opportunity cost an improvement over the classical theory of trade
The Equilibrium Consumption Combination equilibrium for the person occurs at the point where the indifference curve, shown by II, is tangent to the budget line, portrayed by BB. T
IN YOUR OWN WORDS,HOW DO YOU DIFINE TRANSPORT ECONOMICS?GIVE RELAVANT EXAMPLES OF THIS AREA OF ECONOMICS.
Monopsony: Demonstrate (with a graph) how a minimum wage can increase both the wage and employment in a monopsony market even when the government sets th
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