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प्रश्न
If a good is inferior good, then purchases of that good will decrease when ______.
पर्याय
The supply of it increases
Population increases
Income increases
The price of a substitute rises
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उत्तर
If a good is inferior good, then purchases of that good will decrease when income increases.
Explanation:
For an inferior good, as income increases, consumers typically reduce their purchases of that good and instead buy more expensive or higher-quality alternatives.
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संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
Increase in demand is caused by
Distinguish between extension and contraction of demand.
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 8 units (assuming that there are only three consumers in the market), the market demand is ______.
State the law of demand.
Identify the correct statement from the following alternatives:
The following table shows the amount of sugar bought by a household at different prices:
| Period | Price (₹ per kg) | Amount Bought (kg) |
| Jan. 2000 | ₹ 15 | 4 |
| Feb. 2000 | ₹ 16 | 5 |
Does the behaviour of household contradict the law of demand? Give reasons in support of your answer.
Which of the following is NOT an assumption of the Law of Demand ?
