Question

Match the statements given under column A with the correct options given under column B.

COLUMN –I COLUMN-II
( I) Substitute good ( a)Increase in quantity demanded
( ii) Inferior good ( b) Rightward shift in the demand curve
( iii) Expansion of Demand (c ) Demand decreases with increase in income
(iv) Increase in demand (d )Rice and wheat​

Answer 1

Answer :

Match The Statements

i) Substitute Goods - Rice and Wheat

ii) Inferior Goods - Demand Decreases

with Increase in Income

iii) Expansion of Demand - Increase in

Quantity Demanded

iv) Increase in Demand - Rightward shift

in the Demand Curve

Substitute Goods :

Goods that are used as substitutes to satisfy a need.

Inferior Goods :

Goods whose demand decreases when consumer income rises or demand increases when consumer income decreases.

Expansion of Demand :

The downward movement along the demand due to fall in price.

Increase In demand :

The Rightward shift or upward shift of the demand Curve due to favourable changes in non price factors.

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