Question

Which of the following is important to understand because it is necessary to know whether changes in consumers' incomes or changes in the cost of a product will end in the desired outcome?

a. Elasticity
b. Demand
c. Cost
d. Supply

Answer 1

Answer:

b. Demand

Explanation:

In the case when there is the change in the sale and the same is reduced so the sales of the product is also decreased because the demand of the customer is decreased as the stock product fashion is fall

So if there is any change in the income or any change in the product cost so the demand would impact due to which it change the desired outcome

Hence, the option b is correct