SUMBITTED TO: INDU GREWAL SUMBITTED BY: KAMALPREET SINGH

I T CAN BE DEFINED AS :Different quantities of a particular commodity, which a consumer is willing to and able to buy at various different prices

Price ii) Income iii) Tastes and preferences iv) Price of related goods v) Future expectations vi) Government policies vii) Population viii) Distribution of income ix) Season and climate x) Demonstration effect
i)

1)

Statement- it states that all other things held constant, there is a negative relationship between the price and demand of the commodity 2) Ex- price demand 10 2 20 1

Income is constant 2) Price is constant 3) Tastes and preferences are constant 4) Distribution of income is constant
1)

6)

Giffen goods 2) Articles of distinction 3) Ignorance 4) Neccesities of life 5) War or emergency Consumers preferences for a special brand 7) Habit of a consumer
1)

Number of consumers 2) Different uses of a commodity 3) Law of diminishing marginal utility 4) Income effect 5) Substitution effect
1)