Question

Fill in the blanks with appropriate words:
(i) If the income of a buyer falls, his demand for inferior goods will
....................
(ii) When price of ink increases, the demand for fountain pen will ....................
(iii) .................... is the number of buyers of a commodity in the market, higher
will be the demand for the commodity.
(iv) If the distribution of income and wealth is more in favour of the
.................... the demand for goods used by the poor will be more

Answer 1

(i) if the income of a buyer Falls, his demand for inferior goods will increase.

(ii) when the price of ink increases, then the demand for fountain pen will decrease.

(iii) higher is the number of buyers of a commodity in the market, higher will be the demand for the commodity.

(iv) if the distribution of income and wealth is more in favour of the poor the demand for goods used by poor will be more.

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