Distinguish between the increase in demand and the decrease in demand. (2024)

An increase in demand is caused by a rise in income, a rise in the price of substitutes, a decrease in the price of complementary goods, an increase in population, and when goods are fashionable.

A drop in demand is caused by a drop in income, a drop in the price of substitutes, an increase in the price of complementary goods, a drop in population, or when goods become out of style.

Distinguish between the increase in demand and the decrease in demand. (2024)
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