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प्रश्न
State whether the following statement is true or false. Give reasons.
An increase in the demand for a commodity is due to a fall in its price.
पर्याय
True
False
उत्तर
This statement is true.
Explanation:
Yes, according to the rule of demand, when the price of a good declines, the quantity wanted rises, as price and quantity demanded have an indirect relationship.
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संबंधित प्रश्न
As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:
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What is a decrease in demand?
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In order to encourage tourism in Goa, Government of India suggests Indian Airlines to reduce air fares to Goa from four major cities: Chennai, Kolkata, Mumbai and New Delhi. If the Indian Airlines reduces the air fare to Goa, how will this affect the market demand curve for air travel to Goa?
Distinguish between 'movement along the demand curve' and shift of a demand curve.
What causes a downward movement along a demand curve?
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With the help of a suitable diagram, explain expansion in demand.
State whether the following statement is true or false. Give reasons.
Contraction of demand is the result of a decrease in the number of consumers.
