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प्रश्न
Any statement about demand for a good is considered complete only when the following is/are mentioned in it:
विकल्प
Price of the good
Quantity of the good
Period of time
All of the above
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उत्तर
All of the above
Explanation:
A statement about demand for a good is considered complete only when it includes:
- Price of the good: Demand is always linked to a specific price level.
- Quantity of the good: It specifies how much of the good is demanded.
- Period of time: Demand is typically measured over a specific period, such as per day, week, month, etc.
संबंधित प्रश्न
The Law of Demand was introduced by ______.
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Explain the law of demand.
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The following table shows the demand schedule for 3 consumers in a market.
| Price in (Rs) | Consumer 1 Demand in (kgs) | Consumer 2 Demand in (kgs) | Consumer 3 Demand in (kgs) | Market Demand |
| 10 | 1 | 2 | (i) ______ | 6 |
| 8 | 2 | (ii) ______ | 4 | 9 |
| 6 | 3 | 4 | 5 | 12 |
| 5 | 4 | 5 | 6 | (iii) ______ |
Based on the above hypothetical schedule answer the following questions.
- What is the demand of Consumer 3 priced at Rs 10 (i)
- What is the demand of Consumer 2 priced at Rs 8 (ii)
- Calculate the total market demand priced at Rs 4 (iii)
- From the above given table examine the relationship between price and demand.
- Mention any one exception to the law of demand.
Giffen goods are richman's goods
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| Period | Price (₹ per kg) | Amount Bought (kg) |
| Jan. 2000 | ₹ 15 | 4 |
| Feb. 2000 | ₹ 16 | 5 |
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