Maharashtra State Board course HSC Science (Computer Science) 12th Board Exam
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Fill in the Blank with Appropriate Alternatives Given Below When Price of Commodity Rises, the Demand for It ______________. - Economics

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Question

Fill in the blank with appropriate alternatives given below

When price of commodity rises, the demand for it ______________.

  • rises

  • contracts

  • remains constant

  • becomes negative

Solution

When price of commodity rises, the demand for it contracts.

Explanation:
When the price of a commodity increases, other things are kept constant, the demand for the commodity falls/contracts and vice versa.

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Solution Fill in the Blank with Appropriate Alternatives Given Below When Price of Commodity Rises, the Demand for It ______________. Concept: Demand.
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