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प्रश्न
If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.
पर्याय
True
False
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उत्तर
This statement is True.
Explanation:
If car prices rise, some people may delay or avoid purchasing a new car. Since cars and petrol are complementary goods, a decrease in car purchases would likely lead to a decrease in the demand for petrol.
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संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
The Law of Demand was introduced by ______.
Increase in demand is caused by
The movement on or along the given demand curve is known as ______
Write a statement of the Law of Demand.
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.
What is meant by the income effect of a fall in the prices of a commodity?
Explain four circumstances under which the law of demand does not operate.
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 ?
