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प्रश्न
Give the meaning of Cross demand.
What is meant by cross demand?
उत्तर
Other things being constant, the relationship between the price of a commodity and demand for its related goods (substitute good or complementary good) is called cross-demand.
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संबंधित प्रश्न
Explain any three factors that affect the demand for a commodity.
Give one example of a pair of complementary goods.
What will be the impact of a rise in price on the demand for its complementary goods?
If due to fall in the price of good X, demand for Y rises, the two goods are ______.
What kind of a commodity will have inverse relation between income and demand?
Goods X and Y are complements when they are ______.
The demand for a Good X increases when the price of its substitute ______ OR when the price of its complements ______.
Mobile phones and SIM cards are examples of ______.
Assertion (A): The statement 'A consumer buys 2 litres of milk everyday at a price of ₹50 per litre of milk' is demand statement.
Reason (R): The demand for a commodity is always expressed with references to price and time.
From the set of statements given in Column I and Column II, choose the correct pair of statements:
| Column I | Column II |
| A. Normal goods | (i) Goods the demand for which tends to fall with increase in income. |
| B. Inferior goods | (ii) Goods which cannot be used in place of one another. |
| C. Substitute goods | (iii) Goods which can be used in place of one another. |
| D. Joint demand | (iv) Goods the demand for which rise with increase in income. |
What is demand function?
Give the meaning of Price demand.
Give two examples of substitute goods.
Define complementary goods.
Give an example of Giffen goods.
What are Veblen goods?
Tea and coffee are examples of ______.
When income increases, the demand for ______ type of good will increase.
Milk can be put to several uses; therefore, it is called as a ______ good.
