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प्रश्न
What are inferior goods?
What do you mean by an inferior good?
उत्तर
Inferior good is any good whose demand falls as the consumer's income increases, and as the consumer's income decreases, the demand for it rises.
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संबंधित प्रश्न
State two factors affecting the market demand for a commodity.
Which of the following pairs of goods are most likely substitutes?
If due to fall in the price of good X, demand for Y rises, the two goods are ______.
With an increase in income, the consumption of which good, the consumer reduces ______.
The demand for a Good X increases when the price of its substitute ______ OR when the price of its complements ______.
Mobile phones and SIM cards are examples of ______.
If price of X increases, then demand for Y too increases. What is the relationship between goods X and Y? Give an example.
With the help of a suitable example explain the effect of a rise in price on the demand for complementary goods.
Explain any three determinants of market demand.
Explain how quantity demanded for commodity X will be affected by An increase in the price of its substitute.
Explain how quantity demanded for commodity X will be affected by Government policy.
Define market demand.
Explain any four factors affecting the demand for a commodity.
Give the meaning of Income demand.
Give two examples of substitute goods.
Define complementary goods.
Car and petrol are examples of ______ demand.
Detergent powder and detergent cake are examples of ______.
