3 years ago

How does income impact Demand?

1 answer:

5 0

The Consumer's Income
The effect that income has on the amount of a product that consumers are willing and able to buy depends on the type of good we're talking about. In other words, for these goods when income rises the demand for the product will increase; when income falls, the demand for the product will decrease.

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It is called as

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The above scenario is an example of the hidden area.

<h3>What is an Hidden area?</h3>

This area is known to be a kind of information that one do hide from others.

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