Read the following passage and answer the question.

Many companies have planned for significant investments in organized retailing in India. Several factors have prompted their decisions in this regard. Customer income is rising. People have developed a taste for better quality products even though they may have to pay more. The aspiration levels have increased. The government has also liberalized its economic policies in this regard and permitted even cent percent foreign direct investment in some sectors of retailing.

Which statement highlight the economic change?

Customer income is rising

The correct answer is option 1- Customer income is rising.

'Customer income is rising' is the economic factor as it relates to people's purchasing power and overall economic conditions.

(i) Economic Change: 'Customer income is rising'
(ii) Social Change: 'The aspiration levels have increased' and 'People have developed a taste for better quality products even though they may have to pay more
(iii) Political Change: 'The government has also liberalised its economic policies.