aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • GK (Economics)
  • The law of demand states that
Multiple choice

The law of demand states that

  1. demand increases with increase in income

  2. when income and prices rise, demand also rises

  3. when price falls, demand increases

  4. when price increases, demand increases

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Correct Answer: when price falls, demand increases

Keep practicing — related questions

  • There is one General Law of Demand the quantity demanded increases with a
  • According to law of demand, which of the following effects the demand of goods?
  • When can a state law on a subject in the Concurrent List get precedence over a Central law on the same subj...
  • Which of the following statements is/are false? P. The use of hot air balloons in meteorological observatio...
  • Which of the following Constitutional Amendment Bills proposes to give powers to both Union and State to ma...
  • Which of the following laws states that if a body or system of bodies is in motion under a conservative sys...
  • The Indian Parliament is competent to enact law on a State subject if
  • Quantity demanded of umbrellas was 200 at a price Rs. 60 per umbrella. Quantity demanded of umbrellas incre...
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Microeconomics and Pricing (1364 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy