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Demand and supply

For Normal Commodity: With a rise in


income, the demand of the commodity
also rises and vice-versa. Shortly, direct
relationship exists between income of a
consumer and demand of normal
commodity.
There is an inverse relationship between the price of the commodity
and the quantity demanded, which causes the demand curve to slope
downward from left to right.This is because of the following reasons:
b) Substitution effect:

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