How The Consumer Behave If There Is Change In His Income (+ Or -) Regarding Good And Service Demand
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As their is a increase on income..consumers thinks of spending the additional income. But it may be also -ve which means he/she may think of saving that additional income.
Also their are other chances of spending a part of the income and saving the remaining part.
In majority, most of the humans/consumers wishes to spend more with rise in their income.
answered 7 months ago
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According to the law of demand,
Income and demand of a person are directly proportional to each other. This means if income of a consumer is increased the demand for goods and services will automatically increase accordingly. On the other hand if the income of consumer is decreased, the demand for goods and services will also decrease. For more info please visit the given link.
www.investopedia.com
answered 8 months ago
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