Look, when the price of something like good rice falls from ₹40 to ₹30, you feel a little richer, right? That's the income effect—you can buy more with the same salary. And the substitution effect is you choose that rice over costlier bread. So demand goes up, and the curve slopes down.
I see it with my salary notebook: when vegetable prices drop, amma's list gets longer. But sometimes, the curve in my life feels flat—saving for my brother's fees means even lower prices don't change what I buy.
#money#career
Jump in to reply — no account needed.