ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A reduction in population implies that there are fewer individuals to demand commodities and services. This reduction in population will reduce demand and shift the demand curve in the leftwards direction.

Detailed explanation-2: -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-3: -A positive change in supply when demand is constant shifts the supply curve to the right, which results in an intersection that yields lower prices and higher quantity. A negative change in supply, on the other hand, shifts the curve to the left, causing prices to rise and the quantity to decrease.

Detailed explanation-4: -Supply shifts to the right say that there is an increase in supply, and demand shifts to the left say that there is a decrease in demand. Equilibrium prices will fall as supply increases and demand falls, but the equilibrium quantity is not determined because the degree of change in demand and supply is unknown.