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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
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f) Giffen goods
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4) Factors of production
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g) Indirect demand
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5) Pen and ink
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c) Joint demand
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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.
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संबंधित प्रश्न
Demand curve and Supply curve.
When does ‘decrease’ in demand take place?
The demand of a commodity, when measured through the expenditure approach, is inelastic. A fall in its price will result in : (choose the correct alternative)
(a) No change in expenditure on it.
(b) Increase in expenditure on it.
(c) Decrease in expenditure on it.
(d) Anyone of the above.
Explain the problem of what to produce.
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
If due to fall in the price of good X, demand for good Y rises, the two goods are : (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Competitive
When is demand called perfectly inelastic?
Give reason or Explain the following statement :
Demand for habitually used goods is inelastic.
Give one reason for shift in demand curve.
Define or explain the following concept :
Effective demand .
Fill in the blank with proper alternatives given in the bracket:
Indirect demand is also known as _______ demand.
State whether the following statement is true or false.
Perfectly inelastic demand curve is parallel to ‘X’ axis.
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.
Define or explain the concept of Demand schedule.
Write answers in ‘one’ or ‘two’ paras each.
What are the main determinants of aggregate demand?
Explain the following concepts or give definitions.
Demand
State whether the following statement is TRUE and FALSE
When demand increases, the demand curve shifts to the left.
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.
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 substitute goods and complementary goods, with examples.
Good X and Good Y are substitute goods. If price of Good X increases, discuss briefly its likely impact on the demand for Good Y.
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
Choose the correct answer from given options
In the given figure X1Y1 and X2Y2 are Production Possibility Curves in two different periods T1 and T2 respectively for Good X and Good Y. A1 and A2 represent actual outputs and P1 and P2 represent potential outputs respectively in the two times periods.
The change in actual output of Goods X and Y over the two periods would be represented by a movement from __________.
In case of ______ supply curve is a vertical straight line parallel to Y-axis.
If the price of good X rises and it leads to an increase in demand for good Y, both are ______ goods.
Which of the following points relates to the transaction demand for money?
Law of demand states the ______ relationship between price and quantity demanded.
From the set of statements given in Column A and Column B, choose the correct pair of statement:
| Column A | Column B |
| 1. Reduction of pollution | (a) Microeconomics |
| 2. Problems due to unemployment | (b) Microeconomics |
| 3. Shift in the demand curve | (c) Microeconomics |
| 4. Government expenditure on building of roads | (d) Microeconomics |
Area under MC curve is equal to:
Which of the following statements is true?
Identify the two cost curves which start from the same point on the Y-axis.
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 true?
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.
In which of the following cases there will be leftward shift in demand?
The demand curve of a firm under monopoly is ______
"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.
The demand for Coca-cola is ______ in the present times.
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:
Identify the correctly matched pair of the items in Column A to that of Column B.
| Column A | Column B | ||
| (1) | Increase in demand for goods | (a) | Leftward shift in the demand curve |
| (2) | Decrease in demand | (b) | Perfectly Elastic Demand |
| (3) | Ed = ∞ | (c) | Increases in the income of the consumer |
| (4) | Downward Sloping | (d) | Income elasticity of Demand |
Which of the following statements is true?
The figure given below shows the relation between the quantity demanded for the good X and the price of the good Z. What type of goods are X and Z?
