Question

Do the following statements indicate less demand for cherries? a. Lower incomes have hurt purchases in...

Do the following statements indicate less demand for cherries? a. Lower incomes have hurt purchases in the cherry market. b. Falling peach prices have cut into cherry growers sales. c. Higher cherry prices across the province have caused many consumers to shy away from the market.

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Answer #1

Ans
Due to decrease in income of the consumers the quantity purchased of cherries decreases, this results in decrease of the demand of cherries in the market. The fall in income of the consumers will cause a decrease in their willingness to purchase cherries, as a consequence of which the demand for cherries will fall.
Due to decrease in prices of peach, the demand for peach will increase. As peach is the substitute of cherry, so the demand for cherries will fall, resulting in decreasing sales of the growers of cherries.
If there is an increase in the prices of the cherries across an area, which causes many consumers to purchase less of the cherries, then the demand for cherries shall decrease.

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