Related InterviewSolutions

• The demand curve slopes downwards because ofA. law of DMUB. income effectC. substitution effectD. all of these
• The factor which causes movement along the demand curve isA. price of the commodityB. income of the consumerC. price of other goodsD. tastes of the consumer
• Which of the following causes decrease in demand not a normal goods ?A. fall in incomeB. unequal distribution of incomeC. decrease in population sizeD. all the above
• The effect of changes in price of related goods on demand of a commodity isA. income effectB. substitution effectC. cross-price effectD. none of these
• The demand of these goods varies directly with incomeA. substitute goodsB. inferior goodsC. normal goodsD. giffen goods
• Identify the inferior goodA. ScooterB. BajraC. WheatD. None of these
• Any statement about demand for a good is considered complete only when the following is/are mentioned in itA. price of the goodB. quanitity of the goodC. period of timeD. all of the above
• If due to fall in the price of good X, demand for good Y rises, the two goods are:A. substitutesB. complementsC. not relatedD. competitive