Question
Outline any four factors that would have led to the phenomenon shown in the diagram below.
Answer
- Decrease in consumer level of income
- Unequal distribution of income
- Decrease in population
- unfavorable government policy
- Change in tastes and preferences against the product
- Unfavorable terms of sale
- Change in season when product is not required
- Future expeditions of decrease in price
- Increase in price of complimentary goods
- Decrease in price of substitutes of the product.
- Unequal distribution of income
- Decrease in population
- unfavorable government policy
- Change in tastes and preferences against the product
- Unfavorable terms of sale
- Change in season when product is not required
- Future expeditions of decrease in price
- Increase in price of complimentary goods
- Decrease in price of substitutes of the product.
Related Topics