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प्रश्न
Identity the pair of goods which are substitutes of each other:
विकल्प
Coffee and sugar
Tea and coffee
Bread and butter
Pen and ink
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उत्तर
Tea and coffee
Explanation:
Tea and coffee are substitutes for each other because they can be used in place of one another to satisfy the same need or want. If the price of tea increases, people might buy more coffee, and vice versa. The other pairs listed (coffee and sugar, bread and butter, pen and ink) are complementary goods, meaning they are used together.
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संबंधित प्रश्न
Match the following Group ‘A’ with Group ‘B’:
| Group ‘A’ | Group ‘B’ |
| (a) Electricity | (1) Joint demand |
| (b) Perfectly elastic demand | (2) Lord Keynes |
| (c) Aggregate supply | (3) Prof. Pigou |
| (d) Propensity to consume | (4) Fixed deposits |
| (e) Higher interest rate | (5) Composite demand |
| (6) Demand curve parallel to ‘X’ axis | |
| (7) Natural resources |
Write short note:
Giffen's paradox
Explain any four types of demand.
Complete the correlation.
Direct demand : Food and Mobiles : ______ : Land and Labour.
Define composite demand.
An increase in the price of electricity will cause the demand for electric appliances to ______.
The demand for goods which can be put to several uses is known as ______.
What is ex-ante demand?
For normal goods, how does demand change with rising income?
What is direct demand?
