Demand
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Q.
Demand for a commodity refers to:
Need for the commodity
Desire for the commodity
Amount of the commodity demanded at a particular price and at a particular time
Quantity demanded of that commodity
Q. Concavity of PPC implies:
- increasing slope
- decreasing slope
- constant slope
- none of these
Q.
Demand for a product should have the following pre-requisite
Ability to buy
Willingness
Need
All of these
Q.
Individual demand refers to the quantity of the commodity that a consumer is able and willing to buy at each possible price during a given period of time.
False
True
Q. The quantity of goods a person is willing and can afford to buy at various prices is called .
- demand
- supply
- stock
- desire