Advertisements
Advertisements
प्रश्न
In which exception to the law of demand does the consumer equate price and quality.
विकल्प
Bandwagon Effect
Veblen Effect
Giffen Effect
Conspicous consumption
उत्तर
Veblen Effect
APPEARS IN
संबंधित प्रश्न
Statements that explain Giffen’s paradox:
- It is an exception to the law of demand.
- It is applicable to inferior or low quality goods.
- Demand increases when the prices of inferior goods fall
- It was identified by Prof. Alfred Marshall.
State with reason whether you agree or disagree with the following statement:
When the prices of Giffen goods falls, demand for such goods rises.
Questions:
- Demand Curve D1D1indicates ______ (1m)
- Demand Curve D2D2indicates______ (1m)
- Name the above diagram and explain. (2m)
 |
 |
Questions:
- Diagram’ A ‘represents _____in demand (1m)
- Diagram ‘B’ represents _____in demand (1m)
- In diagram ‘A’ movement of demand curve is in_____ direction (1m)
- In diagram ‘B’ movement of demand curve is in______ direction (1m)
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
When price of Giffen goods fall, the demand for it increases.
State with reasons whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
Mention one exception to the law of demand. Give one point only.
Give one point each of similarity and dissimilarity between Giffen goods and Veblen goods.
Explain the following diagram with reference to the concept of Giffen goods.
The demand curve can slope upwards from left to right. Give one argument in support of this statement.
