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प्रश्न
Distinguish between Desire and Demand.
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उत्तर
| Sr. No. | Desire | Demand |
| 1. | Desire means an urge to have something. | Demand means a desire which is backed by willingness and ability to pay. |
| 2. | Desire is a part of demand. | Demand includes desire. |
| 3. | Desire is not per unit of time. | Demand is always per unit of time. |
| 4. | There is no relation between desire and price. | There is an inverse relationship between demand and price. |
| 5. | Reference to time and price is not necessary to express desire. | Reference to time and price is necessary to express demand. |
| 6. | E.g., the desire of a poor person to go on a vacation to Switzerland.. | E.g., the demand of a popular movie actor to buy an “Audi” car. |
APPEARS IN
संबंधित प्रश्न
Explain, with reasons, whether you Agree or Disagree with the following statement
There are no exceptions to the Law of Demand.
State whether the following statement is True or False.
Demand for perishable goods is inelastic.
Demand curve and Supply curve.
Define demand. Name the factors affecting market demand.
When does ‘decrease’ in demand take place?
What is meant by inelastic demand?
The demand of a commodity, when measured through the expenditure approach, is inelastic. A fall in its price will result in : (choose the correct alternative)
(a) No change in expenditure on it.
(b) Increase in expenditure on it.
(c) Decrease in expenditure on it.
(d) Anyone of the above.
Explain the problem of what to produce.
Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)
a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
Demand deposits include (choose the correct alternative)
(a) Saving account deposits and fixed deposits
(b) Saving account deposits and current account deposits
(c) Current account deposits and fixed deposits
(d) All types of deposits
If due to fall in the price of good X, demand for good Y rises, the two goods are : (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Competitive
When is demand called perfectly inelastic?
Give reason or Explain the following statement :
Demand for habitually used goods is inelastic.
Give one reason for shift in demand curve.
Explain the following concept:
Effective demand
Fill in the blank using proper alternative given in the bracket:
Perfectly inelastic demand curve is.....................................................
State whether the following statement is True or False :
Demand for necessary goods is inelastic.
State with reason. Whether you ‘agree’ or ‘disagree’ with the following statement:
There are no exceptions to the law of Demand.
Fill in the blank using proper alternatives given in the bracket:
Demand for salt is ...............
State and explain the law of demand.
Fill in the blanks using proper alternatives given in the brackets.
Demand for car and petrol is ____________ de
Write whether the following statement is True or False:
Demand curve has a positive slope.
Define the concept of demand schedule.
Distinguish between :
Individual demand schedule and Market demand schedule.
Write Explanatory answer.
State and explain the law of demand with its exception.
Fill in the blank with appropriate alternatives given in the bracket:
The law of demand states ________ relation between demand and price.
fill in the blank with appropriate alternatives given in the bracket:
Demand for salt is ___________.
Fill in the blank with appropriate alternatives given below
When price of commodity rises, the demand for it ______________.
Fill in the blank with appropriate alternatives given below:
When less is purchased at the constant price, it is called _______ in demand.
Fill in the blank with appropriate alternatives given below:
When the price of petrol goes up, demand of cars will ___________.
Fill in the blank with appropriate alternatives given below:
Market demand is an aggregate of purchasing by _________ buyers.
Match the following:
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Group A
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Group B
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1. Demand and price
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a. Substitute goods
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2. Tea and coffee
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b. Inverse relation
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3. Inferior goods
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c. Joint demand
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4. Factors of production
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d. Distribution of income
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5. Pen and ink
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e. Composite demand
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f. Giffen goods
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g. Indirect demand
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State whether the following statement is TRUE and FALSE
Desire means demand.
State whether the following statement is TRUE and FALSE
When demand increases, the demand curve shifts to the left.
State whether the following statement is TRUE and FALSE
Individual demand is a demand by single buyer.
Define the following concept:
Derived demand
Give reason or explain the following statement.
Increase in demand indicates a rightward shift in the demand curve.
Give reason or explain the following statement.
Demand for factors of production is derived demand.
Fill in the blank using appropriate alternatives given below
The demand for perishable goods is _______
State whether the following statement is True or False:
Demand for luxurious goods is elastic .
Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
Distinguish between normal goods and inferior goods, with examples.
State whether the following statement is true or false. Give reasons for your answer :
X and Y are complementary goods. A fall in the price of Y will result in a rise in the price of X.
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
Choose the correct answer from given options
In the given figure X1Y1 and X2Y2 are Production Possibility Curves in two different periods T1 and T2 respectively for Good X and Good Y. A1 and A2 represent actual outputs and P1 and P2 represent potential outputs respectively in the two times periods.
The change in actual output of Goods X and Y over the two periods would be represented by a movement from __________.
Answer the following question:
Elaborate the law of demand, with the help of a hypothetical schedule.
In case of ______ supply curve is a vertical straight line parallel to Y-axis.
If the price of good X rises and it leads to an increase in demand for good Y, both are ______ goods.
We say that there is a decrease in demand when ______
Which of the following points relates to the transaction demand for money?
Law of demand states the ______ relationship between price and quantity demanded.
Increase in price of substitute goods leads to ______
From the set of statements given in Column A and Column B, choose the correct pair of statement:
| Column A | Column B |
| 1. Reduction of pollution | (a) Microeconomics |
| 2. Problems due to unemployment | (b) Microeconomics |
| 3. Shift in the demand curve | (c) Microeconomics |
| 4. Government expenditure on building of roads | (d) Microeconomics |
Are the concepts of demand for domestic goods and domestic demand for goods the same?
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Utility | (a) Bread and butter |
| (2) Normal Goods | (b) Rise in price |
| (3) Contraction in demand | (c) Capacity of a commodity to satisfy human wants. |
| (4) Complementary goods | (d) Positively related |
If the increase in demand is greater than the increase in supply, then equilibrium price will ______
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Budget Line | (a) Normal goods |
| (2) Bajra | (b) Inferior goods |
| (3) Consumer equilibrium | (c) Luxurious goods |
| (4) Elastic Demand | (d) M = Px*x + py*y |
What will be the effect on equilibrium price and equilibrium quantity when income increases in case of normal goods?
Area under MC curve is equal to:
Which of the following statements is true?
Identify the two cost curves which start from the same point on the Y-axis.
Which of the following is correct?
Identify the market form which has indeterminate demand curve:
Which of the following statements is true?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain unchanged.
Assertion: The income of the consumers remains unchanged
Reason: Commodity should be a normal good.
Select the correct alternative from the following.
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
In which of the following cases there will be leftward shift in demand?
Which of the following is the reason behind the downward slope of demand option?
When the price of the commodity has changed the demand for the commodity changes in ______
Which of the following statements is true?
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
______ is the want to buy a product backed by purchasing power.
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
What has happened to the demand of zero sugar carbonated drinks?
In an open economy, Aggregate Demand is estimated as:
Milk is used for making curd, sweets and chocolates.
What type of demand does milk have? Give a reason.
“I want a car but do not have money to buy it.” In economics, this statement refers to ______.
Which of the following is an example of effective demand?
Demand for air or sunlight is not considered in economics because ______.
Which of the following is a flow concept associated with demand?
Micro view of demand relates to ______.
