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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
When does ‘increase’ in demand take place?
Explain how do the following influence demand for a good:
i. Rise in income of the consumer.
ii. Fall in prices of the related goods
If with the rise in the price of good Y, demand for good X rises, the two goods are: (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Jointly demanded
What does a rightward shift of demand curve indicate?
Fill in the blank using proper alternative given in the bracket:
Market demand is a total demand of...............buyers.
Write explanatory notes or answer the following.
Aggregate demand
Do you agree with the following statement? Give reason
There are no exceptions to the law of demand.
Statements related to decrease in demand
- It is a type of change in demand
- It takes place due to unfavourable changes in other factors like tastes, income etc.
- Price remains constant
- Demand curve shifts to the right hand side of the original demand curve
Assertion (A): Under exceptional cases, demand curve has a positive slope.
Reasoning (R): In exceptional cases, consumer buys more when the price of a commodity rises and buys less when the price of commodity falls.
The demand curve for foreign exchange is ______
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.
Explain why the demand curve slopes downwards.
Study the following diagram and answer the questions:
Questions:
- In which direction does the demand curve slope?
- What is the reason for the fall in demand of rice from Q0 to Q1?
Draw a straight-line demand curve joining both the axes. Indicate the following on the demand curve.
Elasticity of demand is equal to zero
What does the downward slope of the demand curve indicate?
What causes movement along the demand curve, not a shift of the curve?
Why is the demand curve useful for businesses?
