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प्रश्न
Which of the following statement is not true?
पर्याय
Want is an effective desire
Demand is different from want
Demand is always at a price
In economics, the terms - 'desire' 'want' and 'demand' have the same meanings.
उत्तर
In economics, the terms - 'desire' 'want' and 'demand' have the same meanings.
Explanation:
In economics, the terms 'desire,' 'want,' and 'demand' do not have the same meanings:
- Desire is simply the wish to have something.
- Want is a step beyond desire, where a person wishes to have something and has the willingness to obtain it.
- Demand is a want backed by the ability and willingness to pay for a commodity at a given price.
संबंधित प्रश्न
Define the term demand.
Why is supply directly proportional to price?
Explain the following:
Creeping inflation
What is the impact of the level of technology on supply?
Why is creeping inflation considered good for an economy?
Explain four causes of inflation.
Discuss the effects of inflation on Fixed income groups
Discuss the effects of inflation on Producers.
Give two differences between recurring deposits and fixed deposits.
Printers and ink cartridge are an example of ______ demand.
Supply always refers to a specific desired quantity which a seller is willing to ______
If tea and coffee are substitutes, then bread and butter are examples of ______.
Explain the term 'Veblen effect'. Give an example.
The Law of Demand shows the relationship between ______.
How does demand differ from want?
