Advertisements
Advertisements
प्रश्न
Distinguish between extension and contraction of demand.
Advertisements
उत्तर
If the changes in the quantity demanded are due to the change in price alone then it is called extension and contraction of demand. Buying more at a lower price is an extension of demand and less at a higher price is the contraction of demand.
APPEARS IN
संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
State with reason whether you agree or disagree with the following statement.
There is an inverse relationship between price and demand.
In case of relatively more elastic demand, the shape of the curve is
Explain 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.
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:
When at a price of ₹ 5 per unit of a commodity, A's demand is for 11 units, B's demand is for 14 units and C's demand is for units (assuming that there are only three consumers in the market), the market demand is ______.
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.
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.
Why does the demand curve always slope downwards?
