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in Concept of Demand by (63.4k points)

What are the different uses of the commodity?

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Commodities have many uses. If their price rises, they are used only for more important purposes. As a result, their demand will go down. On the contrary, when the price is reduced, they will be put to different uses and their demand will rise. For example, with the increases in the electricity charges, power will be used primarily for domestic lighting, but if the charges are reduced, people will use power for cooking, fans, heaters, etc.

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