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
Option 1: A only
Option 2: B only
Option 3: A and B only
Option 4: All of the above
Correct Answer: All of the above
Solution : A decrease in demand may occur due to the following reasons: (i) A product has fallen out of favor, or people's preferences for a commodity have shifted. (ii) Consumer income has decreased. (iii) The prices of the commodity's substitutes have decreased. (iv) People's proclivity to consume has decreased. (v) Fall in Taste of Consumer. Hence d is the correct answer.
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
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 : Which of the following factors affects demand elasticity at prices? a) The commodity's nature a) Income status c) The availability of alternatives
Question : Which of the following is a transfer payment? (a) Unemployment allowances (b) Scholarships (c) Retirement pension
Question : Which of the following sources of rural loans is institutional? A: Regional Rural Bank B: Landlords C: Traders
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