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प्रश्न
Figures (A), (B) and (C) given below represent different types of Demand curves.
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| (A) | (B) | (C) |
What kind of goods do each of these Demand curves represent? Give a reason for each of the curves.
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उत्तर
Figure (A) shows a demand curve that slopes upward with income on the Y-axis and Demand for X on the X-axis, representing normal items whose demand increases as the consumer's income rises.
Figure (B) shows a straight upward sloping demand curve with Demand for X on the X-axis and Price of Y on the Y-axis, representing substitute goods. As the price of the substitute goods increases, so does the demand for the other goods.
Figure (C) shows demand for X on the X-axis and price for Y on the Y-axis, with the demand curve representing demand for complementary items, where an increase in the price of complementary goods causes a decrease in demand for other goods and vice versa.
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संबंधित प्रश्न
Explain the law of demand with its assumptions.
When does ‘increase’ in demand take place?
Explain the effect of change in prices of the related goods on demand for the given good.
Market of a commodity is in equilibrium. Demand for the commodity "increases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.
Distinguish between individuals demand and market demand.
Good Y is a substitute of good X. The price of Y falls. Explain the chain of effects of this change in the market of X.
What does a rightward shift of demand curve indicate?
Do you agree with the following statement? Give reason
There are no exceptions to the law of demand.
Identify the correctly matched items from Column I to that of Column II:
| Column I | Column II |
| (1) Demand Curve of Perfect Competition | (a) V-shaped Curve |
| (2) Demand Curve of Monopoly | (b) U-shaped Curve |
| (3) Demand Curve of Monopolistic Competition | (c) Upward rising |
| (4) Demand Curve of Oligopoly | (d) In-determinant |
Assertion (A): The demand curve is downward sloping.
Reason (R): The income effect means with a fall in the price of a good, the consumer's real income or purchasing power rises and he demands more units of the good.
In case of perfect competition, AR curve is:
Explain why the demand curve slopes downwards.
How is the market demand curve constructed from individual demand curves?
In a demand schedule, what do the X-axis and Y-axis represent when plotting the demand curve?
Why is the demand curve useful for businesses?
