Elementary Theory of Demand — Economics STD 10 — Question
ICSE BoardEnglish MediumSTD 10EconomicsElementary Theory of Demand1 Mark
Question
What does a rightward shift of demand curve indicate?
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Answer
A rightward shift of demand curve indicates increase in demand due to change in any factor other than the own price of the good, e.g., rise in income (in case of a normal good), rise in price of a substitute good, etc.
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