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प्रश्न
State the impact of the following changes on the demand curve of a commodity:
A rise in the price of the commodity
उत्तर
A rise in the price of a good reduces the demand for it. Individuals' money income does not increase in the same proportion as the price of a good. Thus, an increase in the price of a thing reduces demand for that specific commodity.
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संबंधित प्रश्न
Complete the following demand schedule:
| Price (in ₹) | Quantity of mangoes demanded (in kg) |
| 350 | 2 |
| 300 | |
| 250 | |
| 200 | |
| 150 | |
| 100 |
The bus fare between two cities is reduced. How will this affect the demand curve for bus travel between the two cities?
The demand curve is generally ______.
A fall in income of the consumer (in the case of normal goods) will cause a/an ______.
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Using hypothetical data show a market demand schedule.
State the impact of the following changes on the demand curve of a commodity:
Increase in the supply of a substitute commodity
Shyam, Sita, Renu, Ahmed and John are five consumers of apples. Their demand for apples is given below. Derive the market demand schedule for apples.
| Price per Kg (in ₹) | Quantity Demanded (Apples) in Kg. | ||||
| Shyam | Sita | Renu | Ahmed | John | |
| 25.00 | 16 | 15 | 12 | 14 | 18 |
| 30.00 | 12 | 11 | 10 | 8 | 15 |
| 35.00 | 10 | 9 | 8 | 6 | 12 |
| 40.00 | 8 | 6 | 4 | 2 | 8 |
With the help of a hypothetical table, draw the demand curve of a commodity.
Define a market demand schedule.
