Demand & Change in Demand

What kind of relationship between exists between price and quantity demanded?

• Inverse
• Positive
• Proportionate
• None of these

 In demand schedule, quantity demanded varies with the price: 

• Inversely
• Directly 
• Proportionately
• Independently

Expansion and Contraction in demand caused by change in :  

•  Income of the Buyer
•  Price of the commodity
• Price of the related goods
•  Taste of the consumer

With an increase in the price of petrol, demand curve of scooters will shift: 

• Rightward 
•  Upward 
• Leftward 
• Downward

Law of demand does not apply in case of :

• Normal goods
• Inferior goods
• Giffen Goods
• None of these

Expansion of demand is called :  

• Rightward Shift 
• Rightward Movement 
• Leftward Shift
• Leftward Movement

A movement  along the demand curve is due to :

•  Increase in demand
• Decrease in demand
• Change in Price 
• Change in Income

With increase in the income of the consumer the demand of normal goods :

• Decreases  
• Increases
• Remains Same
• None of these

If price of good-X rises and the demand of good-Y decreases, then the two goods are called :

• Substitute goods 
•  Complementary goods
• Normal goods 
• Inferior goods

Which of the following factors causes a decrease in demand for a commodity? 

• Fall in price of Substitute goods
• Fall in price of Complementary goods
• Rise in price of the given commodity 
• Expectation of future increase in the price of the commodity