ALIA BINT BAZEEL HERE WITH A DOUBT
Identify the correct pair of statements from the following column I and II.
Column I Column II
A. Income effect i. Effect on quantity demanded when
real income of the buyer changes-
owing to change in commodity price.
B. Substitution effect ii. Complete the demand for goods.
C. Normal goods iii. Decreases the demand when
Income rises.
D. Slope of demand curve iv. Increases from left to right.
Alternatives:
a) A – i
b) B – ii
c) C – iii
d) D - iv
Dear Student,
Correct pair from the following given statement is:-
Income effect- Effect on quantity demanded when real income of the buyer changes owing to change in commodity price.
Henceforth, Option A is the correct one.
Regards
Correct pair from the following given statement is:-
Income effect- Effect on quantity demanded when real income of the buyer changes owing to change in commodity price.
Henceforth, Option A is the correct one.
Regards