Sawaal
2
Q:

An increase in the price of a good will

A) decrease demand B) increase quantity demanded
C) increase demand D) decrease quantity demanded

Answer:   D) decrease quantity demanded



Explanation:

In economics we study that, if the price of a good increases the demand in its quantity decreases or the demand for its complimentary good increases.

 

For example, if the rice of a good increased by 5%, the demand in its quantity decreases by 10% approximately.

Subject: Business Awareness
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO
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