Multiple Choice Questions on In case of Inferior goods like bajra a fall in its price tends to ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

In case of Inferior goods like bajra a fall in its price tends to ........

Economics- Phase (I & II) Demand and Supply , Market Structures
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    In case of Inferior goods like bajra, a fall in its price tends to:

    Make the demand remain constant

    Incorrect Answer

    Reduce the demand

    Correct Answer

    Increase the demand

    Incorrect Answer

    Change the demand in an abnormal way

    Incorrect Answer
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    Explanation:

    The income effect for an 'inferior good' is negative. It implies that for an increase in income of its buyers, the demand for the good falls.

    By: honey kaundal
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