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In case of inferior goods like bajra, a fall in its price tends to: a)Make the demand remain constant b)Reduce the demand c)Increase the demand d)Change the demand in an abnormal way
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For what type of good does demand fall with a rise in income levels of households?
a)Inferior goods
b)Substitutes
c)Luxuries
d)Necessities
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In case of an inferior good, the income elasticity of demand is:
a)Positive
b)Zero
c)Negative
d)Infinite
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Demand for a commodity refers to:-
a)Desire for the commodity b)Need for the commodity c)Quantity demanded of that commodity d)Quantity of the commodity demanded at a certain price during any particular period of time
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