2 Views

Question : What is the name of the law that causes the demand curve to slope downward?

Option 1: Consumer equilibrium

Option 2: Utility minimization

Option 3: Utility maximization

 

Option 4: Diminishing marginal utility


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Diminishing marginal utility


Solution : Law of diminishing marginal utility:-
The marginal utility of a commodity decreases as the quantity of goods increases, according to this principle. As a result, as the quantity increases, prices fall while demand rises. As a result, when prices are lower, consumers will demand more goods. As a result, the demand curve slopes downward.
Hence d is correct answer.

Related Questions

CLAT Current Affairs with GK ...
Apply
Stay updated with current affairs & check your preparation with the CLAT General Knowledge Mock Tests Ebook
CLAT English Language Mock Tests
Apply
Free Ebook - CLAT 2025 English Language questions with detailed solutions
CLAT Legal Reasoning Mock Tests
Apply
Free Ebook - CLAT 2025 legal reasoning questions with detailed solutions
SLAT 2025 - The Symbiosis Law...
Apply
Conducted by Symbiosis International (Deemed University) | Ranked #5 in Law by NIRF | Ranked #2 among best Pvt Universities by QS World Rankings
Geeta Institute of Law Admiss...
Apply
Admissions open for BA. LL.B. (Hons.), BBA. LL.B. (Hons.), LL.B. & LL.M
GMAT™ Exam
Apply
Select test center appointment | Scores valid for 5 Years | Multiple Attempts | Round 1 Applications Closing Soon
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books