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प्रश्न
Figures (A), (B) and (C) given below represent different types of Demand curves.
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| (A) | (B) | (C) |
What kind of goods do each of these Demand curves represent? Give a reason for each of the curves.
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उत्तर
Figure (A) shows a demand curve that slopes upward with income on the Y-axis and Demand for X on the X-axis, representing normal items whose demand increases as the consumer's income rises.
Figure (B) shows a straight upward sloping demand curve with Demand for X on the X-axis and Price of Y on the Y-axis, representing substitute goods. As the price of the substitute goods increases, so does the demand for the other goods.
Figure (C) shows demand for X on the X-axis and price for Y on the Y-axis, with the demand curve representing demand for complementary items, where an increase in the price of complementary goods causes a decrease in demand for other goods and vice versa.
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संबंधित प्रश्न
Explain the law of demand with its assumptions.
Market of a commodity is in equilibrium. Demand for the commodity "increases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.
Good Y is a substitute of good X. The price of Y falls. Explain the chain of effects of this change in the market of X.
If with the rise in the price of good Y, demand for good X rises, the two goods are: (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Jointly demanded
How does change in the price of a substitute good affect the demand of the given good? Explain with the help of an example.
Fill in the blank using proper alternative given in the bracket:
Market demand is a total demand of...............buyers.
Define or explain the following concept.
Market Demand .
State with reason, whether you Agree or Disagree with the following statement.
The demand curve slopes downward from left to right.
Do you agree with the following statement? Give reason
There are no exceptions to the law of demand.
State with reasons whether you ‘agree’ or ‘disagree’ with the following statement.
Demand curve slopes downward from left to right.
Assertion (A): Under exceptional cases, demand curve has a positive slope.
Reasoning (R): In exceptional cases, consumer buys more when the price of a commodity rises and buys less when the price of commodity falls.
Assertion (A): The demand curve is downward sloping.
Reason (R): The income effect means with a fall in the price of a good, the consumer's real income or purchasing power rises and he demands more units of the good.
In case of perfect competition, AR curve is:
Explain why the demand curve slopes downwards.
Study the following table and answer the questions:
| Price of Ice Cream (₹) | Quantity Supplied | Market Supply | ||
| Seller A | Seller B | Seller C | (A + B + C) | |
| 50 | 0 | 2 | 5 | 7 |
| 100 | 1 | `square` | 10 | 15 |
| 150 | `square` | 6 | 15 | 23 |
| 200 | 3 | 8 | 20 | `square` |
| 250 | 4 | 10 | `square` | 39 |
Questions:
- Complete the above table.
- State whether the following statements are True or False.
(a) Market supply has a direct relation to price.
(b) As the price rises from ₹50 to ₹250, market supply rises from 7 to 39. This indicates an increase in supply.
In a demand schedule, what do the X-axis and Y-axis represent when plotting the demand curve?
