Advertisements
Advertisements
प्रश्न
State the impact of the following changes on the demand curve of a commodity:
Increase in the supply of a substitute commodity
उत्तर
If the supply of substitute products increases, so will the demand for the substitute good, since when the the price of one good falls while the price of its alternative remains constant, the substitute good becomes more expensive. Thus, a rational buyer will swap a cheaper commodity for a more expensive one, resulting in increased demand for the now-cheaper good.
APPEARS IN
संबंधित प्रश्न
With the help of suitable diagram explain the meaning of rightward shift in the demand curve. Explain briefly any two of its determinants.
The demand curve is generally ______.
A fall in income of the consumer (in the case of normal goods) will cause a/an ______.
In the following diagram, the demand curve is upward sloping. Under what kind of goods is it possible?
Differentiate between individual demand schedule and market demand schedule.
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 price of a complementary commodity
How is the market demand curve derived from the individual demand curves?
Define an individual demand schedule.
Define market demand.
