QnA - Dev Library Questions and Answers

Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

Does increase or decrease in the income of the consumer have the same effect on every type of commodity?

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

Why are goods and services demanded?

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

What is the relationship between change in the price of a good and change in the demand of its complementary goods?

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

What is the relationship between change in the price of a good and change in demand of its substitute?

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

Differentiate between substitute goods and complementary goods.

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

What is meant by cross price effects? Give two numerical examples to illustrate this.

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

Explain any three determinants of demand.

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

Give two examples of normal goods and two examples of inferior goods.

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

How will an increase in the price of coffee affect demand for tea?

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Asked by Nikita Chetry
Latest Answer: 42 days ago
In: Commerce

If quantity demanded of a commodity X falls, as a household's income decreases, what type of good X is?

1 Answer

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