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प्रश्न
If with the rise in price of good Y, demand for good X rises, the two goods are:
विकल्प
Substitutes
Complements
Not related
Jointly
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उत्तर
Substitutes
Explanation:
If the demand for good X rises with an increase in the price of good Y, it indicates that the two goods are substitutes. Substitute goods are those that can be used in place of each other. When the price of one good increases, consumers tend to buy more of the other good, which is now relatively cheaper. For example, if the price of tea (good Y) rises, the demand for coffee (good X) might increase as consumers switch to the cheaper alternative.
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संबंधित प्रश्न
Distinguish between extension and contraction of demand.
Explain the law of demand.
Write a statement of the Law of Demand.
Any statement about demand for a good is considered complete only when the following is/are mentioned in it:
Pick the option which does not belong to the group:
What is meant by the income effect of a fall in the prices of a commodity?
Identify the correct statement from the following alternatives:
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 formula correctly expresses the factors that determine the demand for a commodity?
