ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increase
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decrease
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stay the same
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None of the above
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Detailed explanation-1: -Increase in population increases the demand for goods in the market. Hence, the market demand for many commodities has increased in India.
Detailed explanation-2: -Population income affects the demand because the more money people have the more money their going to be willing to spend and the more their going to buy. The actual population changes the demand simply because when there are more people more units will be bought.
Detailed explanation-3: -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-4: -Answer and Explanation: Over the long term, population will increase demand, which will also require an increase in supply.