when income increases, quantity demanded falls, it is

Related MCQs

• When the quantity demanded falls due to a rise in price, it is called
• ……… shows the change in quantity demanded as a result of a change in consumers’ income
• An increase in income may lead to an increase in the quantity demanded, it is
• Law of demand shows the functional relationship between _______ and quantity demanded
• When the quantity demanded of a commodity rises due to a fall in price, it is called
• 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
• Law of demand shows the functional relationship between ………….and quantity demanded
• The relationship between price and quantity demanded is
• When the quantity demanded of a commodity rises due to a fall in price, it is called