There is a new product launched by a mobile manufacturing unit. consumers like this brand very much. how will it affect the demand curve of this new product?
Swati,
Assuming the good to be normal good, when consumer has favourable taste and preferences for a particular product, then it is a situation of 'increase in demand' and the demand curve for the new product will shift rightwards.
We would advice you to not to keep on piling your questions, rather, you should keep posting 1 to 2 questions per subject (Accountancy, Economics and Business Studies) on everyday basis. Ideally, you should go through the study material that is available on our website and look for the answers to the questions. This will not only help you to enhance your analytical abilities but also will help you to learn the application of your knowledge. In this manner, you will gain confidence and will help you in evaluating your preparation.
Assuming the good to be normal good, when consumer has favourable taste and preferences for a particular product, then it is a situation of 'increase in demand' and the demand curve for the new product will shift rightwards.
We would advice you to not to keep on piling your questions, rather, you should keep posting 1 to 2 questions per subject (Accountancy, Economics and Business Studies) on everyday basis. Ideally, you should go through the study material that is available on our website and look for the answers to the questions. This will not only help you to enhance your analytical abilities but also will help you to learn the application of your knowledge. In this manner, you will gain confidence and will help you in evaluating your preparation.