Demand

Q.

Demand for a commodity refers to:

1. Need for the commodity

2. Desire for the commodity

3. Amount of the commodity demanded at a particular price and at a particular time

4. Quantity demanded of that commodity

Q. Concavity of PPC implies:

1. increasing slope
2. decreasing slope
3. constant slope
4. none of these

Q.

Demand for a product should have the following pre-requisite

1. Ability to buy

2. Willingness

3. Need

4. 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.

1. False

2. True

Q. The quantity of goods a person is willing and can afford to buy at various prices is called .

1. demand
2. supply
3. stock
4. desire