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प्रश्न
There are train and bus services between New Delhi and Jaipur. Suppose, the train fare between the two cities comes down. How will this affect the demand curve for bus travel between the two cities?
उत्तर
If the train fare between New Delhi and Jaipur decreases, the demand for bus travel between these two cities will likely decrease, causing the demand curve for bus travel to shift leftward.
- Substitute Goods: Train and bus services between New Delhi and Jaipur are substitute goods. This means that if the price of one decreases (in this case, the train fare), consumers may switch from the higher-priced option (bus travel) to the now cheaper alternative (train travel).
- Leftward Shift in the Demand Curve: When the train fare decreases, many people who would have taken the bus may now prefer to travel by train instead due to the lower cost. This results in a decrease in the demand for bus travel. A decrease in demand for bus travel means that, at every price level, fewer people are willing to travel by bus, leading to a leftward shift in the demand curve for bus travel.
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संबंधित प्रश्न
When the demand curve of a product shifts to the right, it represents a situation of ______.
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 ______.
Match the following:
| Column I | Column II |
| A. Extension of demand. | (i) A larger quantity is demanded at the same price. |
| B. Contraction of demand. | (ii) A smaller quantity is demanded at the same price. |
| C. Increase in demand. | (iii) Fall in quantity demanded due to the rise in its price. |
| D. Decrease in demand | (iv) Rise in the quantity demanded of a commodity as a result of fall in the price. |
With the help of a suitable diagram explain the extension in demand?
What is increase in demand?
Differentiate between a change in quantity demanded and a change 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.
Explain the diagram given alongside.
