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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
The Law of Demand was introduced by ______.
Write a statement of the Law of Demand.
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.
State the law of demand.
What is meant by the income effect of a fall in the prices of a commodity?
Identify the correct statement from the following alternatives:
State whether the following statement is true or false. Give reasons.
The law of demand states a direct relationship between price and demand.
What does the term "ceteris paribus" mean in relation to the Law of Demand?
Which formula correctly expresses the factors that determine the demand for a commodity?
Which of the following is NOT an assumption of the Law of Demand ?
