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प्रश्न
Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
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उत्तर
A normal good: Demand will increase and the demand curve will shift towards the right.
An inferior good: Demand will decrease and the demand curve will shift towards left.
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संबंधित प्रश्न
State whether the following statement is True or False.
Demand for perishable goods is inelastic.
Demand curve and Supply curve.
Define demand. Name the factors affecting market demand.
Compare inelastic demand with perfectly inelastic demand.
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
If due to fall in the price of good X, demand for good Y rises, the two goods are : (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Competitive
When is demand called perfectly inelastic?
Demand for electricity is elastic.
State and explain the law of demand.
Write whether the following statement is True or False:
Demand for commodities depends upon various factors.
Write whether the following statement is True or False:
Salt has elastic demand.
State whether the following statement is TRUE and FALSE
When demand increases, the demand curve shifts to the left.
Fill in the blank using appropriate alternatives given below
The demand for perishable goods is _______
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
Choose the correct answer from given options
In the given figure X1Y1 and X2Y2 are Production Possibility Curves in two different periods T1 and T2 respectively for Good X and Good Y. A1 and A2 represent actual outputs and P1 and P2 represent potential outputs respectively in the two times periods.
The change in actual output of Goods X and Y over the two periods would be represented by a movement from __________.
Which of the following points are related to the 'Paradox of Thrift'?
Which of the following statements is correct with respect to the correction of Excess Demand?
Which of the following statement is true?
