Question : What is the reason for the change in demand? 1:Change in income level of consumer. 2:Change in taste and preferences. 3:Change in population
Option 1: Option a only
Option 2: Option b only
Option 3: Option c only
Option 4: All of the above(A, B and C)
Correct Answer: All of the above(A, B and C)
Solution : A change in demand represents a shift in consumer desire to purchase a particular good or service, irrespective of a variation in its price. Following are the factor affecting the change in demand: 1:Income levels 2:Consumer tastes 3:A different price is being charged for a related product. 4:Change in taste and preferences.
Question : Which of the following are the causes of a fall in demand? (a) Fall in Income (b) Fall in Number of Buyers (c) Fall in Taste of Consumer
Question : When a good's demand is less elastic, a) Price change as a percentage of demand as a percentage of price change b) Change in the amount demanded as a percentage of price change c) Price change by percentage equals demand by percentage changed d)
Question : EXCEPT for the one, the following are the causes of a shift in demand: A: Change in income B: Change in price C: Change in prices of substitutes D: Change in fashion
Question : What demonstrates the causal link between quantity demand and its driving factors? A: Government Policies B: Taste and Preferences C: Price of Related Goods
Question : “Change in demand” occurs due to the change in:
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