Home
Class 12
ECONOMICS
What is the relation between good x and ...

What is the relation between good x and good y in each case, if with a fall in price of x demand for good y (i) rises and (ii) falls? Give reason.

Text Solution

Verified by Experts

(i) Goods x and y are complementary goods as with fall in price of x, demand for good y rises.
(ii) Goods x and y are substitute goods as with the fall in price of x, demand for good y also falls.
Promotional Banner

Topper's Solved these Questions

  • COST

    FULL MARKS|Exercise NCERT TEXTBOOK QUESTIONS SOLVED|137 Videos
  • ELASTICITY OF DEMAND

    FULL MARKS|Exercise NCERT TEXTBOOK QUESTIONS SOLVED|114 Videos

Similar Questions

Explore conceptually related problems

With a fall in income, demand for normal goods will rise.

If due to fall in the price of good X, demand for good Y rises, the two goods are :

FULL MARKS-DEMAND -NCERT TEXTBOOK QUESTIONS SOLVED
  1. Does a rise in price of other goods have the same effect on demand for...

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

  5. Differentiate between Normal Goods and inferior Goods.

    Text Solution

    |

  6. Differentiate between substitute goods and complementary goods.

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

  16. Explain the inverse relationship between the price of a commodity and...

    Text Solution

    |

  17. Why does law of demand slope downward from left to right ?

    Text Solution

    |

  18. Why do household buy more at a lower price than at a higher price ?

    Text Solution

    |

  19. Explain the causes behind law of demand.

    Text Solution

    |

  20. Law of demand states that price and demand are positively related to e...

    Text Solution

    |