Question

Q6) Complete the correlation.

1) Consumer good : ___________ :: Capital goods : Derived demand.
Direct demand
Indirect demand

2) _________ : before consumption :: Satisfaction : after consumption.
Usefulness
Utility

3) Relatively elastic demand : ed >1 :: __________ : ed <1.
Perfectly inelastic demand
Relatively inelastic demand

4) Expansion of supply : Price rises :: Contraction of supply : __________.
Price falls
Unfavourable changes in other factors.

5) ________ : buyers and sellers from same region :: International market : buyers and sellers are from across the national borders.
Local market
National market​

Answer 1

Answer:

1) Consumer good : Direct demand :: Capital goods : Derived demand.

Direct demand

Indirect demand

2) Utility : before consumption :: Satisfaction : after consumption.

Usefulness

Utility

3) Relatively elastic demand : ed >1 :: Relatively inelastic demand: ed <1.

Perfectly inelastic demand

Relatively inelastic demand

4) Expansion of supply : Price rises :: Contraction of supply : Price falls.

Price falls

Unfavourable changes in other factors.

5) Local Market : buyers and sellers from same region :: International market : buyers and sellers are from across the national borders.

Local market

National market