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प्रश्न
The goods whose demand decreases as income increases.
विकल्प
Luxuries
Giffen goods
Inferior goods
Necessities
उत्तर
Inferior goods
Explanation:
Inferior goods are those whose demand decreases as income increases. As consumers' incomes rise, they tend to buy fewer inferior goods and switch to more expensive or higher-quality alternatives.
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संबंधित प्रश्न
What does a downward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
An increase in the price of electricity, will curve the demand for electric appliances to ______.
Mr Vijay purchases 2 litres of milk per day when it is priced at ₹ 35 per litre. Suppose he has some guests at home and consequently he purchases 6 litres of milk on that day. What will you call it?
If X and Y are complementary goods, a rise in the price of Y will cause the demand curve of X to ______.
Match the following:
| Column I | Column II |
| A. Extension of demand. | (i) A larger quantity is demanded at the same price. |
| B. Contraction of demand. | (ii) A smaller quantity is demanded at the same price. |
| C. Increase in demand. | (iii) Fall in quantity demanded due to the rise in its price. |
| D. Decrease in demand | (iv) Rise in the quantity demanded of a commodity as a result of fall in the price. |
Differentiate between a change in quantity demanded and a change in demand.
State two types of related goods.
Explain the diagram given alongside.
The following table shows a change in the demand. Read the table carefully and answer the question that follows:
| Case I | Case II | ||
| Price (₹) | Quantity | Price (₹) | Quantity |
| 10 | 20 | 10 | 20 |
| 10 | 10 | 5 | 20 |
What type of change is it, decrease in demand or contraction in demand? Give a reason.
