wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

When the price of the substitute goods rise then demand for a given commodity ___


A

Rises

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

Falls

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

Remains constant

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

May increase or decrease

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

The correct option is A

Rises


When the price of a good change, people will substitute to cheaper alternatives and vice-versa.


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Demand Shifters
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon