An inferior commodity is one which is consumed in smaller quantities when the income of consumer
A). Becomes nil
B). Remains the same
C). Falls
D). Rises
Rises
An inferior commodity is one which is consumed in smaller quantities when the income of consumer Rises. In economics, an inferior good is a good whose demand decreases when consumer income rises unlike normal goods, for which the opposite is observed.
2. Question 12:How are the rates of consumption of energy and economic growth connected?
3. Which Committee's recommendations are being followed for estimating Poverty Line in India
4. Banks with higher proportion of demand deposits will have
5. A mixed economy is characterised by the co-existence of
6. The supply of a good refers to
7. In a perfectly competitive market
8. Which of the following industries was started first in India
9. Question 7:Identify six factors contributing to land degradation in India.
10. Question 9:Outline the steps involved in attaining sustainable development in India.