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प्रश्न
Give the meaning of Income demand.
उत्तर
It refers to the quantity demanded of a commodity in relation to the income of the consumer, other things being constant. When income increases the demand for normal goods shifts to the right while the demand curve for inferior good shifts be to the left.
संबंधित प्रश्न
Explain any three factors that affect the demand for a commodity.
Give one example of a pair of complementary goods.
Which of the following pairs of goods are most likely substitutes?
What kind of a commodity will have inverse relation between income and demand?
With an increase in income, the consumption of which good, the consumer reduces ______.
The demand for a Good X increases when the price of its substitute ______ OR when the price of its complements ______.
State two important determinants of demand.
What are inferior goods?
What do you mean by complementary goods?
With the help of a suitable example explain the effect of a rise in price on the demand for complementary goods.
Explain how quantity demanded for commodity X will be affected by An increase in the price of its substitute.
Explain how quantity demanded for commodity X will be affected by Consumer credit facility.
Define market demand.
Explain any four factors affecting the demand for a commodity.
Give two examples of substitute goods.
Give an example of inferior goods.
Given an example of Veblen goods.
Milk can be put to several uses; therefore, it is called as a ______ good.
