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प्रश्न
Symbolically, the functional relationship between Demand and Price can be expressed as ______.
विकल्प
Dx = f(Px)
Dx = f(Pz)
Dx = f(y)
Dx = f(T)
Dx = f(Tx)
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उत्तर
Symbolically, the functional relationship between Demand and Price can be expressed as Dx = f(Px).
Explanation:
- Dx = Demand for commodity x
- Px = Price of commodity x
- f = Function (shows how one variable depends on another)
This shows that demand is a function of price, which is a fundamental concept in economics.
संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
Find the odd word
Assumptions to law of demand -
The Law of Demand was introduced by ______.
State with reason whether you agree or disagree with the following statement.
There is an inverse relationship between price and demand.
Increase in demand is caused by
The movement on or along the given demand curve is known as ______
In case of relatively more elastic demand, the shape of the curve is
Distinguish between extension and contraction of demand.
Explain the law of demand.
Write a statement of the Law of Demand.
State with reason whether you agree or disagree with the following statement :
When price of Giffen goods fall, the demand for it increases.
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.
Any statement about demand for a good is considered complete only when the following is/are mentioned in it:
If with the rise in price of good Y, demand for good X rises, the two goods are:
Giffen goods are richman's goods
If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.
If a good is inferior good, then purchases of that good will decrease when ______.
Pick the option which does not belong to the group:
State the law of demand.
What is meant by the income effect of a fall in the prices of a commodity?
Explain four circumstances under which the law of demand does not operate.
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.
According to the Law of Demand, what happens when the price of a commodity decreases, assuming no other factors change?
Which of the following is NOT an assumption of the Law of Demand ?
Why does the demand curve always slope downwards?
