[Note: The distance between cities in California (US) distance chart below is straight line distance (may be called as flying or air distance) between the two locations in California (US) calculated based on their latitudes and longitudes. This distance may be very much different from the actual travel distance.]
In drawing the demand schedule or the demand curve for a good we take income of the people as given and constant. When as a result of the rise in the income of the people, the demand increases, the whole of the demand curve shifts upward and vice versa. The greater income means the greater purchasing power.
1 A product refers to an arrangement for buying and selling of commodities. 2  The examples of product market are Rice market, Fish market, etc. 3  In the product market the households are the buyer.4  The demand for product is a direct demand. The demand for product is a direct demand. 2  The price of the product is determined by the interaction of demand and supply of product. 3  This market facilitates exchange of goods and services in the society.