With fall in price of commodity, demand of the commodity increases as it becomes relatively cheaper in comparison to other commodities. This effect…
CA Foundation · Business Economics · MTP · January 2025
With fall in price of commodity, demand of the commodity increases as it becomes relatively cheaper in comparison to other commodities. This effect is known as:
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. Substitution Effect
Topics: Determination of National Income
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