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प्रश्न
If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.
विकल्प
True
False
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उत्तर
This statement is True.
Explanation:
If car prices rise, some people may delay or avoid purchasing a new car. Since cars and petrol are complementary goods, a decrease in car purchases would likely lead to a decrease in the demand for petrol.
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संबंधित प्रश्न
Symbolically, the functional relationship between Demand and Price can be expressed as ______.
Find the odd word
Assumptions to law of demand -
Distinguish between extension and contraction of demand.
Explain the law of demand.
State and explain the law of demand with the help of a hypothetical schedule and graph.
The following table shows the demand schedule for 3 consumers in a market.
| Price in (Rs) | Consumer 1 Demand in (kgs) | Consumer 2 Demand in (kgs) | Consumer 3 Demand in (kgs) | Market Demand |
| 10 | 1 | 2 | (i) ______ | 6 |
| 8 | 2 | (ii) ______ | 4 | 9 |
| 6 | 3 | 4 | 5 | 12 |
| 5 | 4 | 5 | 6 | (iii) ______ |
Based on the above hypothetical schedule answer the following questions.
- What is the demand of Consumer 3 priced at Rs 10 (i)
- What is the demand of Consumer 2 priced at Rs 8 (ii)
- Calculate the total market demand priced at Rs 4 (iii)
- From the above given table examine the relationship between price and demand.
- Mention any one exception to the law of demand.
When at a price of ₹ 5 per unit of a commodity, A’s demand is for 11 units, B’s demand is for 14 units and C’s demand is for 8 units (assuming that there are only three consumers in the market), the market demand is ______.
Pick the option which does not belong to the group:
Identify the correct statement from the following alternatives:
Why does the demand curve always slope downwards?
