Demand Analysis - 2

Car and petrol: complementary goods:: tea and coffee:_________

• Substitute goods

• Joint goods

• Prestige goods

• Composite goods

'When price falls and purchasing power (real income) of a consumer increases which enables him to buy more of a particular commodity'- this is an example of

• Income effect

• Substitution effect

• Multi purpose use effect

• DMU effect

Find the odd word out

• Giffens paradox

• Prestige goods

• Speculation

• No change in taxation policy

_________ refers to demand for goods which are needed for further production.

• Direct demand

• Indirect demand

• Composite demand

• Complementary demand

Giffen goods: inferior goods:: Bungalows and luxury cars:__________

• Complementary goods

• Prestige goods

• Habitual goods

• Substitute goods

When demand curve moves in the upward direction on the same demand curve it is known as ________ of demand

• Increase in demand

• Expansion in demand

• Contraction in demand

• Decrease in demand

Following are the determinants of demand

• Price

• Income

• Size of population

• Advertisement

The relationship between demand for a good and price of its substitute is______

• Direct

• Inverse

• No effect

• Can be direct and inverse

A poor person wants to have a luxury car is an example of _______

• Demand

• Ability

• Desire

Milk is used for direct consumption for curd, tea , sweets etc therefore milk has _______demand

• Competitive demand

• Direct demand

• Composite demand

• Indirect demand