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प्रश्न
State the impact of the following changes on the demand curve of a commodity:
increase in individual income
उत्तर
When a consumer's income rises, so does demand for a good, because the consumer's purchasing power rises as well. As a result, there is a higher demand for commodities. As a result, there is a direct relationship between an individual's income and the demand for a product.
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संबंधित प्रश्न
A fall in income of the consumer (in the case of normal goods) will cause a/an ______.
Demand curve of a good shifts from DD' to Demand dd'. This shift can be caused by:
Differentiate between individual demand schedule and 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
State the impact of the following changes on the demand curve of a commodity:
Increase in the price of a complementary 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.
Briefly explain any three determinants for the negative slope of the demand curve.
Define individual demand.
What is a demand schedule?
