mtmtcow1122
10.01.2020 •
Business
Afall in the price of a product might cause a household to shift its purchasing pattern away from substitutes toward that product.
this shift is called
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Ответ:
The correct answer is: substitution effect.
Explanation:
The price of a product is inversely related to the quantity demanded. This implies that an increase in the price will cause the quantity demanded to decrease and vice versa.
The consumers always prefer a cheaper substitute. So in case of a price rise of a product, the consumers will move to a substitute at lower price.
If there is a fall in the price of the product, the consumers will move away from the substitute to the product.
This is known as the substitution effect.
Ответ:
B. Noun Clause
Explanation:
Thats is the correct answer