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प्रश्न
When does 'change in demand' take place?
उत्तर
Change in demand is a situation where the demand for a good increases or decreases because of changes in other determinants of demand other than own price of the commodity such as
i. Income of the consumer changes
ii. Price of the substitute good changes
iii. Tastes of the consumer of a good changes
iv. Availability of the good expected to change in the future
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संबंधित प्रश्न
When is the demand for a good said to be inelastic?
Income of the buyers and demand for a good.
Explain the change in demand of a good on account of change in prices of related goods.
Explain how the demand for a good is affected by the prices of its related goods. Give examples.
Give reasons or Explain the following statements.
All desires are not demand.
State whether the following statements are TRUE or FALSE with reason.
The demand for consumption goods is direct demand.
State Whether the following statements are TRUE or FALSE:
Demand elasticity concept is useful for labour unions.
Choose the correct answer :
In the period of scarcity of a particular commodity _________.
Choose the correct answer :
Demand elasticity of habitual goods is _________.
Suppose the price elasticity of demand for a good is −0.2. How will the expenditure on the good be affected if there is a 10% increase in its price ?
Give economic terms.
Price being constant, demand falls due to unfavourable changes in other factors.
Distinguish between:
Increase in demand and Decrease in demand
