Income elasticity of demand for luxury goods is usually ________.
greater than one
Luxury goods are those for which demand increases more than proportionally as income rises. Therefore, they have an income elasticity greater than one. This means a 10% increase in income leads to more than a 10% increase in demand.
NTPC is a Central Public Sector Enterprise in which sector?
Which of the following is an example of private sector industry in India?
Which of the following numbers best describes the number of white pieces used in chess?
The basis of determining dearness allowance to employees in India is ______
An indifference curve measures the same level of ______
Which of the following is not a feature of a capitalist economy?
According to Malthusian theory of population, _______
Which of the following incidents is NOT a part of the Medium-Term Fiscal Policy under the Fiscal Responsibility and Budget Management Act, 2003?
What causes the shape of the indifference curves to be convex to the origin for two goods X and Y?
In consumer behaviour theory of economics, the equilibrium is defined as the point of tangency of the:
What was one of the major characteristics of India's economy at the time of independence in 1947?