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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.
APPEARS IN
संबंधित प्रश्न
State whether the following statement is True or False.
Demand for perishable goods is inelastic.
State the factors leading to fall in demand by an individual consumer
Give reason or Explain the following statement :
Demand for habitually used goods is inelastic.
Explain the following concept:
Effective demand
State whether the following statement is True or False :
Demand for necessary goods is inelastic.
Fill in the blanks using proper alternatives given in the brackets.
Demand for car and petrol is ____________ de
Distinguish between :
Individual demand schedule and Market demand schedule.
Fill in the blank with appropriate alternatives given below:
When less is purchased at the constant price, it is called _______ in demand.
Which of the following statements is true?
Which of the following can cause an increase in demand:
Aggregate demand can be decreased by:
Which of the following statements is false?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
In which of the following cases there will be leftward shift in demand?
Which of the following is the reason behind the downward slope of demand option?
Identify the correctly matched pair of the items in Column A to that of Column B.
| Column A | Column B | ||
| (1) | Increase in demand for goods | (a) | Leftward shift in the demand curve |
| (2) | Decrease in demand | (b) | Perfectly Elastic Demand |
| (3) | Ed = ∞ | (c) | Increases in the income of the consumer |
| (4) | Downward Sloping | (d) | Income elasticity of Demand |
Which of the following statements is true?
“I want a car but do not have money to buy it.” In economics, this statement refers to ______.
Which of the following is a flow concept associated with demand?
The formula for demand can be written as ______.
