When an individual’s income falls, when everything else remains the same, his demand for inferior goods:

Related MCQs

• When an individual’s income rises, when everything else remains the same, his demand for normal goods:
• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is:
• Income elasticity of demand for inferior good is:
• In the case of luxury goods, the income elasticity of demand will be:
• When the price of the substitute commodity of X falls, the demand for X:
• From the position of stable equilibrium, the market supply of a commodity decreases, while the market demand remains unchanged, then:
• Effective demand is that demand when:
• In a horizontal straight line demand curve, the price elasticity of demand is:
• If the income elasticity of demand is greater than one, then the commodity is:
• If the income elasticity of demand for a commodity is found to be 0.4, then the commodity concerned is: