Question

Indicate for each of the following situations whether it would shift the demand curve upward or downward 

1. The price of substitute falls. 

2. Consumer’s income increases 

3. There is sudden rise in population. 

4. Complementary goods become more expensive. 

5. There is possibility of further fall in price, nilei 

6. New cheaper substitutes of the commodity appear in the market.

Answer 1

1. downward 

2. upward 

3. upward 

4. downward 

5. downward

6. downward