Theory of Demand
Authored by Shilpa Kura
Arts
12th Grade
Used 7+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is demand
Desire with purchasing power
Desire to satisfy a want
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are Demand and price related to each other
Directly
Inversely
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can be the Related goods
Substitutes and complementaries
Perishable and durable goods
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are Demand for superior goods and income of the consumer related to each other
Directly
Indirectly
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does demand curve slopes
Upwards
Downwards
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which goods are exception to law of demand
Giffen goods
Luxury goods
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Veblen effect is seen in which class of people
Middle class people
Rich class people
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