The responsiveness of demand to a change in income is the measurement of
Foreign exchange rate
Cross elasticity of demand
Income elasticity of demand
Price index elasticity
Correct answer is C
No explanation has been provided for this answer.
6 units
8 units
10 units
12 units
Correct answer is A
No explanation has been provided for this answer.
Which of the following is a luxury item?
Petrol
Textbook
Pencil
Gold
Correct answer is D
No explanation has been provided for this answer.
Competitive demand
Derived demand
Composite demand
Joint demand
Correct answer is B
No explanation has been provided for this answer.
Consumer buy more of a commodity at a lower price than at a higher price because
Productions like to produce more
In a given situation people like to buy more
Consumers like to show off
With the same amount of money they will be able to buy more
Correct answer is D
No explanation has been provided for this answer.