New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    Match the following types of demand with their correct

    descriptions: 1. Market Demand 2. Autonomous Demand 3. Individual Demand Schedule A. When the demand for a good is not linked with the demand of other goods. B. Quantity that a consumer is willing to buy at all possible prices in a given market at a given time. C. Sum of demand of all consumers in a market for a given commodity at a specific point of time.
    A 1B, 2C, 3A Correct Answer Incorrect Answer
    B 1A, 2B, 3C Correct Answer Incorrect Answer
    C 1C, 2A, 3B Correct Answer Incorrect Answer
    D 1A, 2C, 3B Correct Answer Incorrect Answer
    E 1B, 2A, 3C Correct Answer Incorrect Answer

    Solution

    Market Demand is the sum of demand of all consumers in a market (C), Autonomous Demand is when the demand for a good is not linked with the demand of other goods (A), and Individual Demand Schedule is the quantity that a consumer is willing to buy at all possible prices (B).

    Practice Next