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प्रश्न
State whether the following statement is true or false. Give reasons.
An increase in the demand for a commodity is due to a fall in its price.
पर्याय
True
False
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उत्तर
This statement is true.
Explanation:
Yes, according to the rule of demand, when the price of a good declines, the quantity wanted rises, as price and quantity demanded have an indirect relationship.
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संबंधित प्रश्न
As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:
Differentiate between extension and contraction of demand.
Define decrease in demand.
Explain the following diagram:
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change in demand.
Define contraction of demand (or decrease in quantity demanded).
What causes an upward movement along a demand curve?
With the help of a suitable diagram, explain expansion in demand.
Give two factors responsible for the shift of the demand curve to the right.
State whether the following statement is true or false. Give reasons.
A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
