Assertion :Price reduction normally leads to an increase in the demand for a commodity Reason: Price reduction leads to the entry of new buyers of the commodity in the market

Both Assertion and Reason are correct and Reason is the correct explanation for Assertion

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Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion

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Assertion is correct but Reason is incorrect

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Both Assertion and Reason are incorrect

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Solution

The correct option is A Both Assertion and Reason are correct and Reason is the correct explanation for Assertion
Assertion
Price reduction normally leads to an increase in the demand for a commodity- this is a correct statement since price and demand possess inverse relationship.
Reason
Price reduction leads to the entry of new buyers of the commodity in the market- this is the correct explanation for assertion since more consumers can buy the commodity when price falls.

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