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प्रश्न
Identify the correct statement from the following alternatives:
विकल्प
Taj Mahal tea and Tata tea are examples of substitute goods.
'A consumer buys 2 litres of milk at a price of ~ 50 per litre per day' is a demand statement
A consumer never buys an inferior good, no matter how cheap it is
Both (a) and (b)
उत्तर
Both (a) and (b)
APPEARS IN
संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
Complete the following statement:
Symbolically, the functional relationship between Demand and Price can be expressed as ______.
The Law of Demand was introduced by ______.
The movement on or along the given demand curve is known as ______
Write a statement of the Law of Demand.
If with the rise in price of good Y, demand for good X rises, the two goods are:
Giffen goods are richman's goods
If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.
What is meant by the income effect of a fall in the prices of a commodity?
State whether the following statement is true or false. Give reasons.
The law of demand states a direct relationship between price and demand.
