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Question : Cross-demand expresses the functional relationship between

Option 1: demand and price of related commodities

Option 2: demand and income

Option 3: demand and price

Option 4: demand and supply


Team Careers360 20th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: demand and price of related commodities


Solution : The correct option is the demand and price of related commodities .

Cross-demand is about how changes in the price of one item affect the demand for another related item. For instance, if tea becomes more expensive, people might start buying more coffee instead. However, if tea becomes more affordable, individuals may decide to switch from coffee to tea.

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