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प्रश्न
Do you agree with the following statement? Give reason
Many factors influence the demand for a commodity.
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उत्तर
Yes, demand for a commodity is influenced by a number of factors. Some of the factors that influence the demand for a commodity are:
- Price of the commodity- Demand for a commodity shares a negative relationship with price. As the price of the commodity increases, the demand for it falls and vice versa.
- Income of the consumers- For normal goods, demand for a good shares a positive relationship with income of the consumer. As the income of the consumer increases, the demand for normal goods increases and vice versa
- Price of related goods (substitute and complementary goods)- Substitute goods are the goods that are consumed in place of each other. In case of such goods as the price of one good increases, the consumer shifts its demand towards the other good. On the other hand, complementary goods are the goods that are consumed together for the satisfaction of wants. In case f such goods as the price of one good increases the demand for other good falls and vice versa.
- Tastes and preferences of consumers- As the consumers develop a taste and preference for a commodity the demand for it increases. On the other hand, if the taste and preference of consumers move away from a commodity, the demand for good falls.
- Expectations about future prices- If the consumers expect the prices to rise in future, the demand for the good increases at present. On the other hand, if the consumers expect the price to fall in future, they postpone their demand for future.
- Size of the population- Greater the size of population, greater is the total number of consumers, greater is the demand for the commodity and vice versa.
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संबंधित प्रश्न
Demand for necessaries is................
(elastic / inelastic / infinitely elastic / unitary elastic)
Explain, with reasons, whether you Agree or Disagree with the following statement
There are no exceptions to the Law of Demand.
Define demand. Name the factors affecting market demand.
When does ‘decrease’ in demand take place?
What is meant by inelastic demand?
The demand of a commodity, when measured through the expenditure approach, is inelastic. A fall in its price will result in : (choose the correct alternative)
(a) No change in expenditure on it.
(b) Increase in expenditure on it.
(c) Decrease in expenditure on it.
(d) Anyone of the above.
Explain the problem of what to produce.
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
Demand deposits include (choose the correct alternative)
(a) Saving account deposits and fixed deposits
(b) Saving account deposits and current account deposits
(c) Current account deposits and fixed deposits
(d) All types of deposits
When the income of the consumer falls the impact on a price-demand curve of an inferior good is: (choose the correct alternative)
a. Shifts to the right.
b. Shifts of the left.
c. There is upward movement along the curve.
d. There is downward movement along the curve
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?
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.
State with reason. Whether you ‘agree’ or ‘disagree’ with the following statement:
There are no exceptions to the law of Demand.
Fill in the blank with proper alternatives given in the bracket:
Indirect demand is also known as _______ demand.
State whether the following statement is true or false.
Perfectly inelastic demand curve is parallel to ‘X’ axis.
State and explain the law of demand.
Define the concept of demand schedule.
Distinguish between :
Individual demand schedule and Market demand schedule.
Fill in the blank with appropriate alternatives given in the bracket:
The law of demand states ________ relation between demand and price.
fill in the blank with appropriate alternatives given in the bracket:
Demand for salt is ___________.
Explain the following concepts or give definitions.
Demand
Fill in the blank with appropriate alternatives given below
When price of commodity rises, the demand for it ______________.
Fill in the blank with appropriate alternatives given below:
Market demand is an aggregate of purchasing by _________ buyers.
Fill in the blank with appropriate alternatives given below:
Indirect demand is also known as _____________ demand.
Match the following:
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Group A
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Group B
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1. Demand and price
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a. Substitute goods
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2. Tea and coffee
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b. Inverse relation
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3. Inferior goods
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c. Joint demand
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4. Factors of production
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d. Distribution of income
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5. Pen and ink
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e. Composite demand
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f. Giffen goods
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g. Indirect demand
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State whether the following statement is TRUE and FALSE
Quantity demanded varies directly with price.
State whether the following statement is TRUE and FALSE
Individual demand is a demand by single buyer.
Define the following concept:
Derived demand
Give reason or explain the following statement.
Increase in demand indicates a rightward shift in the demand curve.
Distinguish between Desire and Demand.
Fill in the blank using appropriate alternatives given below
The demand for perishable goods is _______
Distinguish between substitute goods and complementary goods, with examples.
Good X and Good Y are substitute goods. If price of Good X increases, discuss briefly its likely impact on the demand for Good Y.
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
Answer the following question:
Elaborate the law of demand, with the help of a hypothetical schedule.
In case of ______ supply curve is a vertical straight line parallel to Y-axis.
If the price of good X rises and it leads to an increase in demand for good Y, both are ______ goods.
We say that there is a decrease in demand when ______
There is a sudden change in climatic conditions resulting in hot weather. Assuming no change in the price of the cold drinks, it will lead to ______
Law of demand states the ______ relationship between price and quantity demanded.
Which of the following points are related to the 'Paradox of Thrift'?
Increase in price of substitute goods leads to ______
Are the concepts of demand for domestic goods and domestic demand for goods the same?
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Utility | (a) Bread and butter |
| (2) Normal Goods | (b) Rise in price |
| (3) Contraction in demand | (c) Capacity of a commodity to satisfy human wants. |
| (4) Complementary goods | (d) Positively related |
If the increase in demand is greater than the increase in supply, then equilibrium price will ______
What will be the effect on equilibrium price and equilibrium quantity when income increases in case of normal goods?
Which of the following can cause an increase in demand:
Aggregate demand can be decreased by:
Which of the following statements is true?
Identify the market form which has indeterminate demand curve:
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?
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.
What is meant by the contraction of demand?
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.
The price elasticity of demand for a good depends on ______ and ______ of the good.
Which of the following statement is true?
"Market demand curve is constructed by horizontally summing all the individual's demand curves at each and every price." Choose the correct option for the above-mentioned statement.
When the price of the commodity has changed the demand for the commodity changes in ______
Which of the following statements is true?
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
The demand for Coca-cola is ______ in the present times.
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
The demand. for coca-cola has ______
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
______ is the want to buy a product backed by purchasing power.
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
What has happened to the demand of zero sugar carbonated drinks?
In an open economy, Aggregate Demand is estimated as:
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?
Assertion (A): Demand deposits are not legal tenders.
Reason (R): They are with the bank, so only can be used as a legal tender when cheques are issued for the transfer.
Demand must always be expressed along with ______.
“I want a car but do not have money to buy it.” In economics, this statement refers to ______.
Which of the following is an example of effective demand?
Which of the following is a flow concept associated with demand?
Micro view of demand relates to ______.
Aggregate demand in macroeconomics includes ______.
The formula for demand can be written as ______.
