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प्रश्न
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.
विकल्प
True
False
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उत्तर
This statement is true.
Explanation:
Yes, according to the rule of demand, when the price of a good declines, the quantity wanted rises, as price and quantity demanded have an indirect relationship.
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संबंधित प्रश्न
What is meant by the contraction in demand?
What is meant by an increase in demand?
With the help of a graph explain the increase in demand concept.
Differentiate between extension and contraction of demand.
What does a downward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
Define contraction of demand (or decrease in quantity demanded).
What does a rightward shift of demand curve indicate?
State whether the following statement is true or false. Give reasons.
A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
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.
