MBA Journals Peer-reviewed management research from Consortium e-Learning Network

NOLEGEIN Journal of Consumer Behavior & Market Research

A Structural Change in Demand for Service-due to Income Elasticity: A Macro Analysis

  1. Ruchi Rathore

Abstract

Present condition shows that India has a higher economic growth. When we talk about which factorsare responsible for economic growth. There will be many factors but the main factor is demandservice and rapid growth and its service sector that have contributed to overall economic growth. Thepresent study is a attempt to provide a substantial theoretical explanation through demand. Side tosupport service led growth. The present study estimates the income elasticity of demand for servicefrom 1951 to 2010. The study finds a structural change in demand for services corresponding toincome.

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