The following points highlight the ten major causes of change of demand for a commodity. The causes are: 1. Changes in Taste and Preferences Habit and Fashion 2. Changes in the Income of the People 3. Changes in the Prices of Related Goods 4. Changes in Population and Number of Potential Buyers, 5. Changes in the Pattern of Income Distribution, [...]
This article will help you to learn about the difference between shift in demand curve and movement along the demand curve. Difference between Shift in Demand Curve and Movement along the Demand Curve Demand is the whole list of quantities that will be bought at various possible prices. Any movement of prices will lead to a different quantity demanded, but [...]
The slope of a line is a measure of its steepness. It is given by the increase in the vertical coordinates divided by the increase in the horizontal coordinates. It simply indicates how much the line rises per unit move to the right or how much it goes down as we move to the right. The former (an upward rising [...]