Quantity demanded (and not demand) for a commodity changes with respect to its own price.

True

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

False

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A True
True.
Quantity demanded of a commodity changes in response to change in its own price. Change in demand occurs when the price of the commodity remains constant, while change in some other factor affecting demand takes place.

Suggest Corrections

Similar questions

When the quantity demanded does not change as a result of change in the price of a commodity, the demand of that commodity is called

Calculate the price elasticity of demand for a commodity when its price increases by 25 % and quantity demanded falls from 150 units to 120 units.

Increase in quantity demanded of a commodity due to a fall in its price is called

Join BYJU'S Learning Program