Demand

Q.

Demand for a Commodity Refers To

1. Desire for the commodity

2. Need for the commodity

3. Quantity demanded of that commodity

4. Quantity of the commodity demanded at a certain price during any particular period of time

Q. A measure of the physical quantity of the goods or services produced through a government scheme or programme is called ______________.

1. Outlay
2. Outcome
3. Output
4. Input

Q. The price of a commodity is determined where _______.

1. demand is equal to supply
2. demand is greater than supply
3. demand is less than supply
4. none of the above

Q. When a relationship between DMU of a product and its prices is decided than it helps in determining __________.

1. total marginal value of a product
2. total utility value of product
3. average utility of product
4. price of product in market

Q. Give two determinants of demand of a commodity.