Advertisements
Advertisements
प्रश्न
Distinguish between normal goods and inferior goods, with examples.
Advertisements
उत्तर
| Basis | Normal Goods | Inferior Goods |
| Definition | Normal goods are those goods whose demand increases with the increase in income and whose demand decreases with a fall in income. | Inferior goods are those goods whose demand increases with a fall in income and whose demand falls decreases with a rise in income. |
| Income Effect | In case of normal goods, there is a positive income effect. | In case of inferior goods, there is a negative income effect. |
| Examples | Branded Clothes, Wheat, Milk | Coarse Cereals, Public Transportation - Bus, rail pass |
संबंधित प्रश्न
State whether the following statement is True or False.
Demand for perishable goods is inelastic.
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
Distinguish between ‘increase in demand’ and increase in quantity demanded of a good.
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 for commodities depends upon various factors.
Give reason or explain the following statement.
Demand curve slopes downward from left to right.
Distinguish between desire and demand.
What do you mean by demand?
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.
In case of ______ supply curve is a vertical straight line parallel to Y-axis.
There is a sudden change in climatic conditions resulting in hot weather. Assuming no change in the price of the cold drinks, it will lead to ______
Which of the following can cause an increase in demand:
Identify the two cost curves which start from the same point on the Y-axis.
Aggregate demand can be decreased by:
The demand curve of a firm under monopoly is ______
When the price of the commodity has changed the demand for the commodity changes in ______
Demand deposits include:
Which of the following statements is true?
Which of the following best describes 'desire' in economics?
Demand for air or sunlight is not considered in economics because ______.
