As the quantity demanded falls due to unfavourable change in other factors, i.e. income of the consumer, price of related goods, etc. it is referred to as a decrease in demand. This results in the demand curve for the commodity shifting leftwards.
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What is meant by decrease in demand?
As the quantity demanded falls due to unfavourable change in other factors, i.e. income of the consumer, price of related goods, etc. it is referred to as a decrease in demand. This results in the demand curve for the commodity shifting leftwards.
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