Ask Question
BusinessBusiness
5 April, 06:46

How can a change in income shift a demand for goods?

+4
Answers (1)
  1. 5 April, 07:44
    0
    The demand of something means how the insistency or desire to purchase that item. When there is a shift in income, demand for goods change drastically. If the income level for a person rises, then the demand for goods that they may not have been able to afford before rises and the cheaper options decline. If the income shift drops, the demand for the goods previously affordable may go down, due to not being able to afford them anymore.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “How can a change in income shift a demand for goods? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,500 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts.
Answers (1)
The net income reported on the income statement for the current year was $250,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively.
Answers (1)
The main source of profit for financial institutions comes from: a) their ownership of stocks in commercial corporations. b) their ownership of real assets received in foreclosures on loans to households.
Answers (1)
The Martins' home has potentially unsafe levels of radon, but they have no idea because it is odorless and they have not been feeling any ill effects from it.
Answers (1)
Net income under absorption costing is gross profit less Select one: a. cost of goods sold. b. fixed manufacturing overhead and fixed selling and administrative expenses. c. fixed manufacturing overhead and variable manufacturing overhead. d.
Answers (1)
New Questions in Business
Lee has not been showing up to work on time. which work ethic is he lacking
Answers (1)
Peterson Company estimates that overhead costs for the next year will be $3,400,000 for indirect labor and $850,000 for factory utilities. The company uses machine hours as its overhead allocation base.
Answers (1)
If you are in sydney, australia, and plan to attend a web conference being held at 10:00am us pacific daylight time (pdt) on 29 may 2012, at what local time do you need to log in?
Answers (1)
Lake Charles Seafood makes 550 wooden packing boxes for fresh seafood per day, working in two 10-hour shifts. Due to increased demand, plant managers have decided to operate three 8-hour shifts per day instead.
Answers (1)
In 2017, in a speech in China, Apple CEO Tim Cook stated that globalization is "great for the world ... I think the reality is you can see that countries in the world ... that isolate themselves, it's not good for their people.
Answers (1)
Home » Business » How can a change in income shift a demand for goods?
Sign Up Forgot Password?