Maharashtra State Board course HSC Science (General) 12th Board Exam
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Fill in the Blank with Appropriate Alternatives Given Below: When the Price of Petrol Goes Up, Demand of Cars Will ___________. - Economics

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Question

Fill in the blank with appropriate alternatives given below:

When the price of petrol goes up, demand of cars will ___________.

  • rise

  • fall 

  • not change

  • remain unchanged

Solution

When the price of petrol goes up, demand of cars will fall.

Explanation:

Cars and petrol are complementary goods, i.e., goods that are demanded together. In such cases, a rise in the price of one leads to a fall in the demand for the other good. Thus, a rise in the price of petrol will lead to a fall in the demand for cars.

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APPEARS IN

 Micheal Vaz Solution for Micheal Vaz Class 12 Economics (2019 to Current)
Chapter 3: Demand Analysis
Exercise | Q: 1.3 | Page no. 24

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Solution Fill in the Blank with Appropriate Alternatives Given Below: When the Price of Petrol Goes Up, Demand of Cars Will ___________. Concept: Demand.
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