Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter 3 -(A) Demand Analysis [Latest edition]
Q.1. Complete the following statement:
The relationship between demand for a good and price of its substitute is ______.
direct
inverse
no effect
can be direct and inverse
The relationship between income and demand for inferior goods is ______.
direct
inverse
no effect
can be direct and inverse
Symbolically, the functional relationship between Demand and Price can be expressed as ______.
Dx = f(Px)
Dx = f(Pz)
Dx = f(y)
Dx = f(T)
When less units are demanded at a high price it shows ______.
increase in demand
expansion of demand
decrease in demand
contraction in demand
