In the law of demand, the statement "Other things remain constant" means -

Related MCQs

• The demand for two or more commodities or factor of production that are used together so that a change in demand for one will be reflected in a change in demand for other e.g., cloth and thread is called
• The demand of a commodity is a direct demand but the demand of a factor of production is called a -
• 'Law of demand' implies that when there is excess demand for a commodity, then
• Other things being equal, a decrease in quantity demanded of a commodity can be caused by –
• Which law states that with constant taste and preferences, the proportion of income spend on food stuff diminishes as income increases?
• When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will -
• When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be -
• If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is -
• Inwhich market structure is the demand curve of the market represented by the demand curve of the firm?
• Elasticity of demand is the degree of responsiveness of demand of a commodity to a -