The relationship between demand for a commodity and price, ceteris paribus, is:

Related MCQs

• A fall in the price of a commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity to:
• If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is:
• If the quantity of a commodity demanded remains unchanged as its price changes, the coefficient of price elasticity of demand is
• The horizontal demand curve for a commodity shows that its demand is:
• Demand for a commodity is elastic when it has:
• A fall in the price of a commodity leads to
• If the price of DVRs fell and as a result the demand for VHS recorders fell we could conclude that VHS recorders DVRs are
• Determination of price through interaction of demand and supply was introduced by:
• If the income and substitution effect of a price increase works in the same direction the good whose price has changed is a
• Cross elasticity of demand between tea and sugar is: