Advertisements
Advertisements
Question
Give an example of inferior goods.
Solution
Toned milk is an example of inferior goods.
APPEARS IN
RELATED QUESTIONS
State two factors affecting the market demand for a commodity.
Give one example of a pair of complementary goods.
What will be the impact of a rise in price on the demand for its complementary goods?
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 ______.
What do you mean by substitute goods?
Explain the impact on demand of complementary goods.
If price of X increases, then demand for Y too increases. What is the relationship between goods X and Y? Give an example.
Differentiate between Giffen goods and inferior goods.
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 Consumer credit facility.
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 two examples of substitute goods.
Define complementary goods.
Detergent powder and detergent cake are examples of ______.
Milk can be put to several uses; therefore, it is called as a ______ good.
