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प्रश्न
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.
विकल्प
Decrease in demand.
Increase in demand.
Increase in quantity supplied.
No change in demand.
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उत्तर
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to Increase in demand for Fanta.
Explanation: Since Fanta and Coke are close choices, any increase in Coke's price will result in a rise in Fanta's demand. This is a result of customers switching from coke to Fanta in terms of demand as the price of coke increases.
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संबंधित प्रश्न
What is meant by the contraction in demand?
What is meant by an increase in demand?
Differentiate between extension and contraction of demand.
When the demand curve of a product shifts to the right, it represents a situation of ______.
Give two reasons for the shift of the demand curve towards the left.
Distinguish between “movement along the demand curve” and shift of a demand curve.
The following table shows a change in the demand. Read the table carefully and answer the question that follows:
| Case I | Case II | ||
| Price (₹) | Quantity | Price (₹) | Quantity |
| 10 | 20 | 10 | 20 |
| 10 | 10 | 5 | 20 |
What type of change is it, decrease in demand or contraction in demand? Give a reason.
Explain the following diagram.
State whether the following statement is true or false. Give reasons.
An increase in the demand for a commodity is due to a fall in its price.
State whether the following statement is true or false. Give reasons.
Contraction of demand is the result of a decrease in the number of consumers.
