A new steel plant comes up in Jharkhand. Many people who were previously unemployed in the area are now employed. How will this affect demand curve for B.W. TV and Colour TV ?

A new steel plant comes up in Jharkhand. Many people who were previous

1.	A new steel plant comes up in Jharkhand. Many people who were previously unemployed in the area are now employed. How will this affect demand curve for B.W. TV and Colour TV ?
Answer» Solution :The DEMAND curve of B.W.TV will shift towards left (being an INFERIOR GOOD) as increase in income of the people due to employment will induce the people to shift from B.W. TV to Colour TV. On the other hand, demand curve of Colour TV will shift towards right (being a normal good) as increase in income will increase its demand.