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InterviewSolution
| 1. |
Discuss the concept of change in demand? |
| Answer» Thank you<br>Demand rises when price is lowDemand decreases with rise in priceDemand is constant when price remains same/constant<br>Changes in demand include an increase or decrease in demand. Due to the change in the\xa0price\xa0of related goods, the income of consumers, and the preferences of consumers, etc. the demand for a product or service changes.So there are two possible changes in demand:\tIncrease (shift to the right) in demand\tDecrease (shift to the left) in\xa0demand | |