ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The demand curve shifts to the left if the determinant causes demand to drop. That means less of the good or service is demanded. That happens during a recession when buyers’ incomes drop. They will buy less of everything, even though the price is the same.

Detailed explanation-2: -If the price decreases, quantity demanded increases. This is the Law of Demand. On a graph, an inverse relationship is represented by a downward sloping line from left to right.

Detailed explanation-3: -Factors like changes in consumer income also cause the market demand to increase or decrease. For example, if the number of buyers in a market decreases, there will be less quantity demanded at every price, which means demand has decreased.

Detailed explanation-4: -In the above-given statement, if the expected future price decreases, the current demand also decreases. The consumer purchases fewer goods due to the decrease in prices of the goods shortly. It causes a leftward shift of the demand curve due to less demand for the goods.