Advertisements
Advertisements
प्रश्न
Identify the correct statement from the following alternatives:
पर्याय
Taj Mahal tea and Tata tea are examples of substitute goods.
'A consumer buys 2 litres of milk at a price of ~ 50 per litre per day' is a demand statement
A consumer never buys an inferior good, no matter how cheap it is
Both (a) and (b)
Advertisements
उत्तर
Both (a) and (b)
APPEARS IN
संबंधित प्रश्न
The Law of Demand was introduced by ______.
The movement on or along the given demand curve is known as ______
In case of relatively more elastic demand, the shape of the curve is
The following table shows the demand schedule for 3 consumers in a market.
| Price in (Rs) | Consumer 1 Demand in (kgs) | Consumer 2 Demand in (kgs) | Consumer 3 Demand in (kgs) | Market Demand |
| 10 | 1 | 2 | (i) ______ | 6 |
| 8 | 2 | (ii) ______ | 4 | 9 |
| 6 | 3 | 4 | 5 | 12 |
| 4 | 4 | 5 | 6 | (iii) ______ |
Based on the above hypothetical schedule answer the following questions.
- What is the demand of Consumer 3 priced at Rs 10 (i)?
- What is the demand of Consumer 2 priced at Rs 8 (ii)?
- Calculate the total market demand priced at Rs 4 (iii).
- From the above given table examine the relationship between price and demand.
- Mention any one exception to the law of demand.
Giffen goods are richman's goods
State the law of demand.
Explain four circumstances under which the law of demand does not operate.
State whether the following statement is true or false. Give reasons.
The law of demand states a direct relationship between price and demand.
According to the Law of Demand, what happens when the price of a commodity decreases, assuming no other factors change?
Which of the following is NOT an assumption of the Law of Demand ?
