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प्रश्न
In which exception to the law of demand does the consumer equate price and quality.
पर्याय
Bandwagon Effect
Veblen Effect
Giffen Effect
Conspicous consumption
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उत्तर
Veblen Effect
APPEARS IN
संबंधित प्रश्न
State with reason whether you agree or disagree with the following statement:
When the price of Giffen goods falls, the demand for it increases.
Statements that explain Giffen’s paradox:
- It is an exception to the law of demand.
- It is applicable to inferior or low quality goods.
- Demand increases when the prices of inferior goods fall
- It was identified by Prof. Alfred Marshall.
State with reason whether you agree or disagree with the following statement:
When the prices of Giffen goods falls, demand for such goods rises.
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Questions:
- Diagram’ A ‘represents _____in demand (1m)
- Diagram ‘B’ represents _____in demand (1m)
- In diagram ‘A’ movement of demand curve is in_____ direction (1m)
- In diagram ‘B’ movement of demand curve is in______ direction (1m)
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reasons whether you agree or disagree with the following statements :
When price of Giffen goods fall, the demand for it increases.
'Price is an indicator of quality'. The statement applies to ______.
“The inverse relationship between price and quantity demanded does not hold good in many cases.”
- Justify the above as Yes or No.
- If justified, explain in brief the Giffen Effect.
Why are prestige good an exception to the law of demand?
Which situation is an example of speculation affecting demand?
