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प्रश्न
State whether the following statement is True or False.
Demand for perishable goods is inelastic.
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उत्तर
This statement is true.
Explanation:
The demand for perishable goods is inelastic because such goods (like fruits, vegetables, milk, bread, etc.) cannot be stored for long and are necessary for daily use. Even if their price changes, consumers cannot easily postpone or avoid their purchase, so the quantity demanded does not change much with a change in price.
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संबंधित प्रश्न
Demand for necessaries is................
(elastic / inelastic / infinitely elastic / unitary elastic)
| Group 'A' | Group 'B' | ||
| a. | Pen and ink | 1 | Quantity-price |
| b. | Revenue | 2 | Accident |
| c. | Insurable risk | 3 | Transfer income |
| d. | Unemployment allowance | 4 | Short period |
| e. | Reverse repo rate | 5 | Long period |
| 6 | Change in demand | ||
| 7 | Joint demand | ||
| 8 | Quantity * price |
Demand curve and Supply curve.
Compare inelastic demand with perfectly inelastic demand.
Explain the problem of what to produce.
Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)
a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
Distinguish between ‘increase in demand’ and increase in quantity demanded of a good.
Demand deposits include (choose the correct alternative)
(a) Saving account deposits and fixed deposits
(b) Saving account deposits and current account deposits
(c) Current account deposits and fixed deposits
(d) All types of deposits
When the income of the consumer falls the impact on a price-demand curve of an inferior good is: (choose the correct alternative)
a. Shifts to the right.
b. Shifts of the left.
c. There is upward movement along the curve.
d. There is downward movement along the curve
If due to fall in the price of good X, demand for good Y rises, the two goods are : (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Competitive
When is demand called perfectly inelastic?
State the factors leading to fall in demand by an individual consumer
Demand for electricity is elastic.
Give one reason for shift in demand curve.
Explain the following concept:
Effective demand
Fill in the blank using proper alternative given in the bracket:
Perfectly inelastic demand curve is.....................................................
State whether the following statement is True or False :
Demand for necessary goods is inelastic.
State with reason. Whether you ‘agree’ or ‘disagree’ with the following statement:
There are no exceptions to the law of Demand.
State whether the following statement is true or false.
Perfectly inelastic demand curve is parallel to ‘X’ axis.
Write short answer for the following question.
Explain the Law of Demand.
Fill in the blank using proper alternatives given in the bracket:
Demand for salt is ...............
Fill in the blanks using proper alternatives given in the brackets.
Demand for car and petrol is ____________ de
Write whether the following statement is True or False:
Salt has elastic demand.
Write Explanatory answer.
State and explain the law of demand with its exception.
Fill in the blank with appropriate alternatives given in the bracket:
The law of demand states ________ relation between demand and price.
Write the answer in ‘one’ or ‘two’ paras.
What are the main determinants of aggregate demand?
Fill in the blank with appropriate alternatives given below:
When the price of petrol goes up, demand of cars will ___________.
Fill in the blank with appropriate alternatives given below:
Market demand is an aggregate of purchasing by _________ buyers.
Fill in the blank with appropriate alternatives given below:
Indirect demand is also known as _____________ demand.
State whether the following statement is TRUE and FALSE
Demand curve slopes upward from left to right.
State whether the following statement is TRUE and FALSE
Desire means demand.
State whether the following statement is TRUE and FALSE
Quantity demanded varies directly with price.
State whether the following statement is TRUE and FALSE
Law of demand is explained by Prof. Robbins.
State whether the following statement is TRUE and FALSE
Individual demand is a demand by single buyer.
Define the following concept:
Derived demand
Give reason or explain the following statement.
Demand for factors of production is derived demand.
What do you mean by demand?
Do you agree with the following statement? Give reason
Many factors influence the demand for a commodity.
Fill in the blank using appropriate alternatives given below
The demand for perishable goods is _______
Distinguish between normal goods and inferior goods, with examples.
State whether the following statement is true or false. Give reasons for your answer :
X and Y are complementary goods. A fall in the price of Y will result in a rise in the price of X.
Good X and Good Y are substitute goods. If price of Good X increases, discuss briefly its likely impact on the demand for Good Y.
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
Choose the correct answer from given options
In the given figure X1Y1 and X2Y2 are Production Possibility Curves in two different periods T1 and T2 respectively for Good X and Good Y. A1 and A2 represent actual outputs and P1 and P2 represent potential outputs respectively in the two times periods.
The change in actual output of Goods X and Y over the two periods would be represented by a movement from __________.
Answer the following question:
Elaborate the law of demand, with the help of a hypothetical schedule.
In case of ______ supply curve is a vertical straight line parallel to Y-axis.
We say that there is a decrease in demand when ______
Which of the following points relates to the transaction demand for money?
Law of demand states the ______ relationship between price and quantity demanded.
Which of the following points are related to the 'Paradox of Thrift'?
From the set of statements given in Column A and Column B, choose the correct pair of statement:
| Column A | Column B |
| 1. Reduction of pollution | (a) Microeconomics |
| 2. Problems due to unemployment | (b) Microeconomics |
| 3. Shift in the demand curve | (c) Microeconomics |
| 4. Government expenditure on building of roads | (d) Microeconomics |
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Utility | (a) Bread and butter |
| (2) Normal Goods | (b) Rise in price |
| (3) Contraction in demand | (c) Capacity of a commodity to satisfy human wants. |
| (4) Complementary goods | (d) Positively related |
If the increase in demand is greater than the increase in supply, then equilibrium price will ______
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Budget Line | (a) Normal goods |
| (2) Bajra | (b) Inferior goods |
| (3) Consumer equilibrium | (c) Luxurious goods |
| (4) Elastic Demand | (d) M = Px*x + py*y |
Area under MC curve is equal to:
Which of the following statements is true?
Which of the following can cause an increase in demand:
Identify the two cost curves which start from the same point on the Y-axis.
Aggregate demand can be decreased by:
Which of the following statements is true?
Which of the following statements is false?
Identify the market form which has indeterminate demand curve:
Which of the following statements is true?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain unchanged.
Assertion: The income of the consumers remains unchanged
Reason: Commodity should be a normal good.
Select the correct alternative from the following.
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
In which of the following cases there will be leftward shift in demand?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
The price elasticity of demand for a good depends on ______ and ______ of the good.
Which of the following statements is true?
Identify the correctly matched pair of the items in Column A to that of Column B.
| Column A | Column B | ||
| (1) | Increase in demand for goods | (a) | Leftward shift in the demand curve |
| (2) | Decrease in demand | (b) | Perfectly Elastic Demand |
| (3) | Ed = ∞ | (c) | Increases in the income of the consumer |
| (4) | Downward Sloping | (d) | Income elasticity of Demand |
Which of the following statements is true?
Assertion (A): Demand deposits are not legal tenders.
Reason (R): They are with the bank, so only can be used as a legal tender when cheques are issued for the transfer.
The figure given below shows the relation between the quantity demanded for the good X and the price of the good Z. What type of goods are X and Z?
Milk is used for making curd, sweets and chocolates.
What type of demand does milk have? Give a reason.
Which of the following best describes 'desire' in economics?
What is necessary for want to become demand?
Demand must always be expressed along with ______.
“I want a car but do not have money to buy it.” In economics, this statement refers to ______.
Which of the following is an example of effective demand?
Demand for air or sunlight is not considered in economics because ______.
Micro view of demand relates to ______.
Aggregate demand in macroeconomics includes ______.
The formula for demand can be written as ______.
