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प्रश्न
If with the rise in the price of good Y, demand for good X rises, the two goods are: (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Jointly demanded
उत्तर
Substitutes
An increase in the price of Good Y causes an increase in the demand for Good X because these goods can be substituted with each other (e.g. coffee and tea). Increase in the price of coffee will increase the demand for tea, i.e. consumers will shift from the purchase of coffee to the purchase of tea.
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संबंधित प्रश्न
Explain the law of demand with its assumptions.
Explain the effect of change in prices of the related goods on demand for the given good.
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i. Rise in income of the consumer.
ii. Fall in prices of the related goods
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Market demand is a total demand of...............buyers.
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The demand curve slopes downward from left to right.
Write explanatory notes or answer the following.
Aggregate demand
State with reasons whether you ‘agree’ or ‘disagree’ with the following statement.
Demand curve slopes downward from left to right.
Assertion (A): Under exceptional cases, demand curve has a positive slope.
Reasoning (R): In exceptional cases, consumer buys more when the price of a commodity rises and buys less when the price of commodity falls.
The shape of supply curve is ______
The demand curve for foreign exchange is ______
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| Column I | Column II |
| (1) Demand Curve of Perfect Competition | (a) V-shaped Curve |
| (2) Demand Curve of Monopoly | (b) U-shaped Curve |
| (3) Demand Curve of Monopolistic Competition | (c) Upward rising |
| (4) Demand Curve of Oligopoly | (d) In-determinant |
Assertion (A): The demand curve is downward sloping.
Reason (R): The income effect means with a fall in the price of a good, the consumer's real income or purchasing power rises and he demands more units of the good.
- Assertion (A): The demand curve slopes downwards.
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Study the following diagram and answer the questions:
Questions:
- In which direction does the demand curve slope?
- What is the reason for the fall in demand of rice from Q0 to Q1?
Figures (A), (B) and (C) given below represent different types of Demand curves.
 |
 |
 |
| (A) | (B) | (C) |
What kind of goods do each of these Demand curves represent? Give a reason for each of the curves.
Draw a straight-line demand curve joining both the axes. Indicate the following on the demand curve.
Elasticity of demand is equal to zero
