Goods whose demand is proportional to price are called
1). inferior goods
2). Veblen goods
3). normal goods
4). exclusive goods
1. The cost that a firm incurs in hiring or purchasing any factor of production is referred to as
2. India opted for 'Mixed Economy' in:
3. Consumer's surplus left with the consumer under price discrimination is
4. A Savings Account with insurance benefit is
5. Risks in the business arise because of
7. Question 17:Explain how import substitution can protect domestic industry.
8. Which of the following will cause an increase in demand for a good?