If income effect works in the same direction to that of substitution effect, the good is a:

Related MCQs

• If income effect works in the direction opposite to that of substitution effect, the good is not:
• Substitution Effect is:
• The curve showing the possibilities of production of desired good is known as:
• In the case of a free good, the consumer will be in equilibrium when:
• Change in demand due to a change in the price of related good :
• The Price and quantity relationship for an inferior good is:
• Commodities bought in larger quantities when income rises are called:
• Income elasticity of demand for inferior goods is:
• In the case of luxury goods, the income elasticity of demand will be:
• Income elasticity is positive, but less than unity in the case of: