The change in the optimal quantity of a good when its price changes and the consumer's income is adjusted so that she can just buy the bundle that she was buying before the price change is called?
1). Law of demand
2). Substitution effect
3). Problem of choice
4). Optimal choice
1. Question 14:Explain how investment in education stimulates economic growth.
2. When the demand for a good increases with an increase in income,such a good is called
4. The cost that a firm incurs in hiring or purchasing any factor of production is referred to as
5. Question 3:Explain the role of micro-credit in meeting credit requirements of the poor.
6. Question 12:Briefly explain the concept of the cost function.
7. Convertibility of the rupee implies :
8. Which of the following accounts for the maximum share in India's foreign exchange reserves?