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प्रश्न
Match the following:
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Group A
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Group B
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1. Demand and price
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a. Substitute goods
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2. Tea and coffee
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b. Inverse relation
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3. Inferior goods
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c. Joint demand
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4. Factors of production
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d. Distribution of income
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5. Pen and ink
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e. Composite demand
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f. Giffen goods
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g. Indirect demand
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उत्तर
|
Group A
|
Group B
|
|
1) Demand and price
|
b) Inverse relation
|
|
2) Tea and coffee
|
a) Substitute goods
|
|
3) Inferior goods
|
f) Giffen goods
|
|
4) Factors of production
|
g) Indirect demand
|
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5) Pen and ink
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c) Joint demand
|
1. Demand and price - Inverse relation
Other things remaining constant, as the price of a good rises (or falls), the quantity demanded of the good falls (or rises). Thus, the price of a good and the quantity demanded of the good share a negative relationship or an inverse relationship.
2. Tea and coffee - Substitute goods
Substitute goods refer to those goods that can be consumed in place of each other. In other words, they can be substituted for each other. For example, tea and coffee are substitute goods. In such cases if price of one of them increases, the consumer substitutes it for other good.
3. Inferior goods - Giffen goods
Giffen goods are the goods that are highly inferior. Such goods share a positive relationship with the price. That is as the price of the good increases the demand increase. This is because such goods have strong income effect.
4. Factors of production - Indirect demand
When goods are demanded not for direct consumption but for use in the production of other goods, the demand for such goods is known as indirect demand. All the factors of production have indirect demand, as they are used in the production of other goods.
5. Pen and ink - Joint demand
Two or more goods are said to have a joint demand when these goods are demanded together to satisfy a single want. Without the other they will not be demanded. Accordingly, pen and ink have a joint demand.
APPEARS IN
संबंधित प्रश्न
Explain, with reasons, whether you Agree or Disagree with the following statement
There are no exceptions to the Law of Demand.
| Group 'A' | Group 'B' | ||
| a. | Pen and ink | 1 | Quantity-price |
| b. | Revenue | 2 | Accident |
| c. | Insurable risk | 3 | Transfer income |
| d. | Unemployment allowance | 4 | Short period |
| e. | Reverse repo rate | 5 | Long period |
| 6 | Change in demand | ||
| 7 | Joint demand | ||
| 8 | Quantity * price |
Compare inelastic demand with perfectly inelastic demand.
Explain the problem of what to produce.
Distinguish between ‘increase in demand’ and increase in quantity demanded of a good.
State the factors leading to fall in demand by an individual consumer
Give reason or Explain the following statement :
Demand for habitually used goods is inelastic.
Define or explain the following concept :
Effective demand .
State whether the following statement is True or False :
Demand for necessary goods is inelastic.
Fill in the blanks using proper alternatives given in the brackets.
Demand for car and petrol is ____________ de
Write whether the following statement is True or False:
Demand curve has a positive slope.
Write whether the following statement is True or False:
Demand for commodities depends upon various factors.
(b) less elastic demand
(c) zero elastic demand
(d) unitary elastic demand
Distinguish between :
Individual demand schedule and Market demand schedule.
Explain the following concepts or give definitions.
Demand
Fill in the blank with appropriate alternatives given below
When price of commodity rises, the demand for it ______________.
Fill in the blank with appropriate alternatives given below:
When less is purchased at the constant price, it is called _______ in demand.
State whether the following statement is TRUE and FALSE
Demand curve slopes upward from left to right.
State whether the following statement is TRUE and FALSE
Quantity demanded varies directly with price.
State whether the following statement is TRUE and FALSE
Individual demand is a demand by single buyer.
Define or explain the following concept:
Direct demand
Distinguish between Desire and Demand.
Answer the following question
What do you mean by demand?
Do you agree with the following statement? Give reason
Many factors influence the demand for a commodity.
Fill in the blank using appropriate alternatives given below
The demand for perishable goods is _______
State whether the following statement is True or False:
Demand for luxurious goods is elastic .
Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
Distinguish between normal goods and inferior goods, with examples
State whether the following statement is true or false. Give reasons for your answer :
X and Y are complementary goods. A fall in the price of Y will result in a rise in the price of X.
Answer the following question:
Elaborate the law of demand, with the help of a hypothetical schedule.
If the price of good X rises and it leads to an increase in demand for good Y, both are ______ goods.
We say that there is a decrease in demand when ______
Which of the following points relates to the transaction demand for money?
There is a sudden change in climatic conditions resulting in hot weather. Assuming no change in the price of the cold drinks, it will lead to ______
Law of demand states the ______ relationship between price and quantity demanded.
Increase in price of substitute goods leads to ______
If the increase in demand is greater than the increase in supply, then equilibrium price will ______
Identify the two cost curves which start from the same point on the Y-axis.
Aggregate demand can be decreased by:
Which of the following statements is correct with respect to the correction of Excess Demand?
Which of the following is correct?
Which of the following statements is false?
Which of the following statements is true?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain unchanged.
Assertion: The income of the consumers remains unchanged
Reason: Commodity should be a normal good.
Select the correct alternative from the following.
"Market demand curve is constructed by horizontally summing all the individual's demand curves at each and every price." Choose the correct option for the above-mentioned statement.
Which of the following is the reason behind the downward slope of demand option?
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
______ is the want to buy a product backed by purchasing power.
In an open economy, Aggregate Demand is estimated as:
Demand deposits include:
