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Law of Demand is a :...

Law of Demand is a :

A

1.quantitative statement

B

2.qualitative statement

C

3.Both (a) and (b)

D

4.None of these.

Text Solution

Verified by Experts

The correct Answer is:
b
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Law of Demand in One Shot

Differentiate between 'Law of Demand and Elasticity of demand'.

Law of demand states that price and demand are positively related to each other.

As per the law of demand, if all other commodities remain the same, then the relation between the demand and price of a commodity is

FULL MARKS-DEMAND -NCERT TEXTBOOK QUESTIONS SOLVED
  1. Goods that exhibit direct price-demand relationship are called:

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  2. In case of Giffen goods, the demand curve will be :

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  3. Law of Demand is a :

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  4. When income of the consumer falls the impact on price-demand curve of ...

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  5. If due to fall in the price of good X, demand for good Y rises, the t...

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  6. Does a rise in price of other goods have the same effect on demand for...

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  7. Does a fall in income have the same effect on demand for the given c...

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  8. What is the relation between good x and good y in each case, if with a...

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  9. Giving reasons, state the following statements are true or false: ...

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  10. Differentiate between Normal Goods and inferior Goods.

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  11. Differentiate between substitute goods and complementary goods.

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  12. Explain law of demand with the help of a demand schedule.

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  13. Law of demand is one sided. It explains only the effect of change in p...

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  14. State any three causes of a rightward shift of a demand curve of a com...

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  15. State any three factors which lead to increase in demand.

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  16. Under what conditions a consumer would like to demand less at a given...

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  17. State any three causes of a leftward shift of a demand curve of a comm...

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  18. State any three factors which lead to decrease in demand.

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  19. Differentiate between increase in demand and expansion in demand (inc...

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  20. Differentiate between decrease in demand and contraction in demand (de...

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