demand

____________goods have positive income effect.

• Normal

• Complementary

• Inferior

Demand for which of the following goods does not change with change in Income of the consumer?

• Normal Goods

• Necessity goods

• Inferior Goods

If with the rise in the price of good Y, the demand for good X rises, the two goods are:

• Substitutes

• Compliments

• Not related

• Jointly demanded

A rise in the price of petrol will ____ the demand for cars

• Decrease

• Increase

• Not affect

Which of the following is not a determinant of a consumer's demand for a commodity?

• income

• population

• price of related goods

• taste

The law of demand refers to the

• inverse relationship between the price of the commodity and the quantity demanded of the commodity per time period.

• direct relationship between the desire of a consumer has for a commodity and the amount of the commodity that the consumer demands.

• inverse relationship between consumer's income and the amount of the commodity that the consumer demands.

If the price of a good increases, then

• the demand for complementary good will increase

• the demand for the good will increase.

• the demand for substitute good will increase.

• the demand for the good will decrease.

which of the following is an example of substitute good?

• tea and coffee

• bread and butter

• car and petrol

• tea and sugar

the demand for the normal goods _____________ with an increase in income of the consumer.

• increase

• decrease

• remains same

• either increases or decreases.

________ is the quantity of a commodity that a consumer is willing and able to buy at each possible price during a given time period.

• want

• desire

• need

• demand