Demand for necessary goods (salt, rice, etc,) is……….and demand for comfort and luxury good is

Related MCQs

• For the commodities like salt, sugar etc.,the income elasticity will be
• When the demand changes due to changes in other factors, like taste and preferences, income, price of related goods etc... , it is called
• Demand for tyres depends on demand of vehicles, the demand for tyres called as
• Pricing is done on the basis of managerial decisions, not on the basis of cost, demand etc…
• What effect is working when the price of a good falls and consumers tend to buy it insteadof other goods
• The Giffen goods are ………. Goods
• The claim that, other things equal, the quantity supplied of a goods rises when the price of goods raises known as:
• If the income elasticity of demand is that one, the good is a
• When an individual’s income falls (while everything else remains the same), his demand for an inferior good:
• Criteria for good demand forecasting includes;