Question : Comfort is defined as the difference between
Option 1: Inferior goods and necessities
Option 2: Luxuries and inferior goods
Option 3: Necessities and luxuries
Option 4: None of the above.
Correct Answer: Necessities and luxuries
Solution : Comforts are acts or words that bring relief from grief or trouble. It lies between necessities and luxuries. Hence option c is the correct answer.
Question : The concept of elasticity is not applicable to:
Question : Generally, the demand for____is inelastic.
Question : Products that have alternative uses are known as:
Question : In which of the following cases does the law of demand fail?
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