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Theory of consumer behaviour — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsTheory of consumer behaviour6 Marks
Question
State three causes each for a rightward shift and a leftward shift of demand curve.
✓

Answer

Causes for a rightward shift of demand curve:
  1. Increase in income of buyers. (normal good)
  2. Increase in price of a substitute good.
  3. Decrease in price of a complementary good.
  4. Favourable change in taste/fashion for the commodity.
Causes for a leftward shift of demand curve:
  1. Decrease in income of buyers. (normal good)
  2. Decrease in price of substitute good.
  3. Increase in price of complementary good.
  4. Unfavourable change in taste/fashion.

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