Change in the demand due to increase in the income of the consumer is known as ________.

increase of demand

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decrease of demand

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contraction of demand

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extension of demand

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Solution

The correct option is A increase of demand
Change in the demand due to increase in the income of the consumer is known as increase of demand. Increase of demand is observed when the demand increases becase of change in other factors other than the price.

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The demand for a good increases when the income of the consumer increases.

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Change in the demand due to increase in the income of the consumer is known as ________.

The correct option is A increase of demandChange in the demand due to increase in the income of the consumer is known as increase of demand. Increase of demand is observed when the demand increases becase of change in other factors other than the price.

The correct option is A increase of demand
Change in the demand due to increase in the income of the consumer is known as increase of demand. Increase of demand is observed when the demand increases becase of change in other factors other than the price.