Advertisements
Advertisements
प्रश्न
Identify the correct statement from the following alternatives:
विकल्प
Taj Mahal tea and Tata tea are examples of substitute goods.
'A consumer buys 2 litres of milk at a price of ~ 50 per litre per day' is a demand statement
A consumer never buys an inferior good, no matter how cheap it is
Both (a) and (b)
Advertisements
उत्तर
Both (a) and (b)
APPEARS IN
संबंधित प्रश्न
Find the odd word
Assumptions to law of demand -
State with reason whether you agree or disagree with the following statement.
There is an inverse relationship between price and demand.
In case of relatively more elastic demand, the shape of the curve is
Distinguish between extension and contraction of demand.
State with reason whether you agree or disagree with the following statement :
When price of Giffen goods fall, the demand for it increases.
Any statement about demand for a good is considered complete only when the following is/are mentioned in it:
State the law of demand.
The following table shows the amount of sugar bought by a household at different prices:
| Period | Price (₹ per kg) | Amount Bought (kg) |
| Jan. 2000 | ₹ 15 | 4 |
| Feb. 2000 | ₹ 16 | 5 |
Does the behaviour of household contradict the law of demand? Give reasons in support of your answer.
State whether the following statement is true or false. Give reasons.
The law of demand states a direct relationship between price and demand.
Which of the following is NOT an assumption of the Law of Demand ?
