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प्रश्न
If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.
विकल्प
True
False
उत्तर
This statement is True.
Explanation:
If car prices rise, some people may delay or avoid purchasing a new car. Since cars and petrol are complementary goods, a decrease in car purchases would likely lead to a decrease in the demand for petrol.
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संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
The Law of Demand was introduced by ______.
State with reason whether you agree or disagree with the following statement.
There is an inverse relationship between price and demand.
Increase in demand is caused by
The movement on or along the given demand curve is known as ______
In case of relatively more elastic demand, the shape of the curve is
If with the rise in price of good Y, demand for good X rises, the two goods are:
Explain four circumstances under which the law of demand does not operate.
Identify the correct statement from the following alternatives:
State whether the following statement is true or false. Give reasons.
The law of demand states a direct relationship between price and demand.
