If more is demanded at the same price or same quantity at a higher price, this fact of demand is known as

Related MCQs

• The price of diamonds is higher than the price of wheat because
• If two commodities are jointly demanded they are
• A vertical demand curve for a commodity shows that demand is
• Price elasticity of demand is best defined as
• For a fact be considered as information, it must relate to a thing or circumstance and be
• If the price index is 200, it means that the price level is
• The price which covers the variable cost as well as the fixed price is
• Skilled men receive higher wages than unskilled because
• While estimating 'Economic Order Quantity' if uniform inflation rate is also taken into consideration as compared to conventional method
• A decrease in the quantity supplied to the market at given prices leads to