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प्रश्न
The goods whose demand decreases as income increases.
पर्याय
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
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 ______.
An increase in the price of electricity will cause an ______.
With the help of a suitable diagram explain the extension in demand?
What is decrease in demand?
The following table shows a change in the demand. Read the table carefully and answer the question that follows:
| Case | Price (₹) | Quantity (kg) |
| I | 10 | 20 |
| 10 | 10 | |
| II | 10 | 20 |
| 5 | 20 |
What type of change is it - decrease in demand or contraction in demand? Give a reason.
What does a rightward shift of demand curve indicate?
Explain the diagram given alongside.
