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A decrease in Demand
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A decrease in demand is
represented by an inward shift in the demand curve for a product. This means
the quantities that consumers buy at each price will be smaller than before.
The factors which causes a decrease in the level of demand are opposite of
the factors that cause an increase in the demand. The factors that
cause a decrease in
the demand are
· A decrease in the income
· A decrease in the wealth
· A decrease in the price of substitutes
· An increase in the price of complements
· A change in the tastes and preferences
against the good
· Expectations of a future decrease in the
price of good
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Tuesday, June 13, 2017
Decrease in the Demand
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