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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
Find the odd word
Assumptions to law of demand -
Increase in demand is caused by
The movement on or along the given demand curve is known as ______
State with reason whether you agree or disagree with the following statement :
When price of Giffen goods fall, the demand for it increases.
State and explain the law of demand with the help of a hypothetical schedule and graph.
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 |
| 5 | 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.
Pick the option which does not belong to the group:
State the law of demand.
What does the term "ceteris paribus" mean in relation to the Law of Demand?
According to the Law of Demand, what happens when the price of a commodity decreases, assuming no other factors change?
