class 11 economics
Answers
Answer:
A) If the good is inferior then the rise in income will lower the demand of a good ,if goods are superior then the rise in income will inc. the demand of a good.
B) If there is a fall in the price of substitute goods then the demand of its substitute will dec.
for ex coke and pepsi are substitute good
coke price dec.then pepsi demand will dec. because when price of coke will dec. it will ultimately inc. its demand and as aresult its substitute demand will dec.
there is positive relation
If complementary goods price are dec.then the demand of other good will inc. for ex car and petrol are complementary goods if petrol prices are decreasing so the demand of cars will inc.
C)If change in taste of consumer is unfavorable then it will decline the demand of particular commodity.
D) If there is a fall in price of substitute goods it will inc the demand of that good and dec. the demand of other goods as ecplained in point no B
E)In case of inferior good when income of consumer will fall the demand will inc. of that inferior goods because inferior goods are cheaper then superior
Answer:
A. If there is rise in the income of consumers then it leads to increase in demand for Normal goods.
B. Related Goods are of two types:
i) Substitute Goods:If there is fall in the price of one commodity then demand for this commodity rises and demand for other commodity falls.
ii)Complementary Goods: If price of one commodity falls then demand for another commodity rises.
D. Fall in price of substitute goods lead to rise in demand for one good and fall in demand for another good.
E. When income of a buyer falls then demand for inferior goods rises.
Explanation:
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