Demand and Supply MCQs

Law of demand shows a relation between the

September 27, 2022

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Law of demand shows a relation between the

Q. Law of demand shows a relation between the ___________.

Quantity demand and quantity supply of a commodity
Income and quantity demand of a commodity
Price and quantity of a commodity
Income and price of a commodity

Answer: Price and quantity of a commodity

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Law of demand shows a relation between the

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Zubair has a special taste for college canteen is hotdogs. The owner of the canteen doubles the prices of hotdogs. Zubair did not respond to the increase in prices and kept on demanding the same quantity of hotdogs. His demand for hotdogs is:

Law of demand shows a relation between the

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If the quantity demanded of a commodity is unresponsive to change in prices, then the demand of that commodity is

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