Situation -1 Law of Demand
There was a chocolate XY . Earlier it was giving 8 pieces in Rs 10 and we all loved it a lot. But now we are getting that chocolate in Rs 18. As now the price has rised, tge demand of that chocolate has fallen.
Situation -2 People respond to incentives
Last time when I went for shopping . I saw chocopie. At first I wasn't interested in taking it. Then when I read that it was buy one get one offer. So that offer motivated me buy tge chocopie packets.
Situation -3 Taste and preferences
There are various companies of fruit juices available in market like Dabur 's Real fruit juice, Tropicana, ITC B natural. But I prefer to always choose Dabur's Real fruit juice.
Situation -6 Inelastic Demand and Preferences
My favourite singer is Arijit Singh. Last year he visited my city for a concert and the price of the tickets were around Rs 10000. I wanted to go to the concert no matter what. So I purchased the tickets.
Situation - 7 Consumer's Equilibrium
I use SN facewash. I 'm satisfied of this product because it gives the maximum utility to me and supply of this product is also high and demand too. The price, quantity everuthing is just worth it.
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