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प्रश्न
Give the meaning of Income demand.
उत्तर
It refers to the quantity demanded of a commodity in relation to the income of the consumer, other things being constant. When income increases the demand for normal goods shifts to the right while the demand curve for inferior good shifts be to the left.
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 ______.
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 ______.
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 do you mean by substitute goods?
What do you mean by complementary goods?
If the quantity demanded of commodity X decreases as the householder's income increases. What type of a commodity is X? Give an example.
Explain how quantity demanded for commodity X will be affected by Government policy.
What is demand function?
Explain any four factors affecting the demand for a commodity.
Give the meaning of Price demand.
Define complementary goods.
Give an example of Giffen goods.
What are Veblen goods?
Car and petrol are examples of ______ demand.
Milk can be put to several uses; therefore, it is called as a ______ good.
