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28-11-2022
Social Studies

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Name some factors that can cause a shift in the demand curve in markets for goods and services.

Answer :

deekshasoraut deekshasoraut

29-11-2022

Changes in demand curve in market for goods and services can be caused by several factors, there are some factors

First factor is INCOME which can shift can demand curve both right and leftward (either increase or decrease the demand for a good or service).
Second factor is TASTE AND PREFERENCES of papulation because it changes with time and can cause increase or decrease the demand for a particular product.
Third factor is price of SUBSTITUTE PRODUCTS if price of one product is more than the substitute goods demand will increase.

Fourth factor is PRICE, if the price of particular good or service increased or decreased cause rightward and leftward shift of demand curve.

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