Advertisements
Advertisements
प्रश्न
Give one point each of similarity and dissimilarity between Giffen goods and Veblen goods.
Advertisements
उत्तर
- Similarity: In case of both - Giffen goods and Veblen goods, demand curve slopes upward indicating positive relationship between price and quantity demanded.
- Dissimilarity: Giffen goods are demanded by its poor people whereas Veblen goods are demanded by the rich people.
APPEARS IN
संबंधित प्रश्न
Explain briefly anyone determinant of an exceptional demand curve.
State with reason whether you agree or disagree with the following statement:
There are no exceptions to the law of demand.
Questions:
- Demand Curve D1D1indicates ______ (1m)
- Demand Curve D2D2indicates______ (1m)
- Name the above diagram and explain. (2m)
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reasons whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reason whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
In which exception to the law of demand does the consumer equate price and quality.
Which exception to the law of demand is primarily based on consumer beliefs about product quality?
What happens to the demand for necessities like salt or electricity when their prices increase?
Which situation is an example of speculation affecting demand?
