(A) Negative
(B) Positive
(C) Constant
(D) Zero
Author:
How is law of demand expressed functionally?
(A) Dx = f (Px ), ceteris paribus
(B) Dx = f (Pz ), ceteris paribus
(C) Dx = f (Y ), ceteris paribus
(D) Dx = f (T ), ceteris paribus
How will demand for a necessity behave with rise in income?
(A) Initially the demand rises and then becomes constant
(B) Initially the demand shows no change and then it rises
(C) Rises
(D) Falls
What kind of relationship exist between income and demand of a normal good?
(A) Direct
(B) Inverse
(C) No effect
(D) Can be direct or inverse
What kind of relationship exist between income and demand of inferior good?
(A) Inverse
(B) Direct
(C) No effect
(D) Can be direct or inverse
What kind of relationship exist between price of a good and demand of its complementary good?
(A) Direct
(B) Inverse
(C) No effect
(D) Can be direct or inverse
What kind of relationship exist between demand for a good and price of its substitute goods?
(A) Direct
(B) Inverse
(C) No effect
(D) Can be direct or inverse