For normal goods, the demand curve has a/an ______ slope.
negative
The demand curve for normal goods slopes downward from left to right, indicating an inverse relationship between price and quantity demanded. This is known as a negative slope, which means as the price decreases, the quantity demanded increases and vice versa. Hence, the correct answer is negative.
The supply curve of cars is expected to shift rightwards with:
i. An increase in the price of cars
ii. A decrease in fuel prices
The supply curve of a normal good is ____________ sloping. It depicts ___________ on the x-axis and ___________ on the y-axis.
The demand curve gives the quantity demanded by the consumer at each ____________.
Which of the following statements is INCORRECT in the context of demand function?
Marginal Product is defined as:
The cross elasticity of demand means responsiveness of the quantity demanded of a good to a change in:
In case of inferior goods, income elasticity of demand is _____________.
A perfectly elastic supply curve means:
i. A horizontal supply curve
ii. Price Elasticity of Supply = Infinity
The law of demand holds good when:
Which of the following is/are constant along a demand curve?
(1) Income of the consumers
(2) Price of related goods
In the above diagram, if curve IC represents income - consumption curve, then it means that :
Which one of the following demands states consumers are adequately buying all the products put into the marketplace?