133. twenty five, it means tomatoes are: (a) Lower goods. (b) Luxury services and products. (c) Regular goods. (d) Are unable to state. Answer: (c) Normal services and products.
There was a romance ranging from cost of a commodity in addition to need for their complementary services and products (other things left an equivalent)
134. six. Precisely what does which indicate: (a) Individual college education try a deluxe. (b) Individual university training is a necessity. (c) Individual university education are an inferior product. (d) We need to do have more private colleges. Answer: (a) Individual college education is a luxurious.
Suppose the amount of money flexibility of training in private college or university when you look at the India is 1
135. Imagine potatoes keeps (-).0.4 once the income elasticity. We can say on research as the: (a) Carrots is actually inferior services and products. (b) Carrots is actually superior goods. (c) Carrots is essentials. (d) There clearly was a desire to increase the money off consumers therefore that they may get carrots. Answer: (a) Carrots is substandard products.
136. Should your earnings elasticity was below that, they implies that the goods are possibly seemingly minimum essential in this new eyes off individual otherwise it’s a beneficial ________. (a) Lower (b) Luxury (c) Prerequisite (d) Nothing of those Answer: (c) Needs
137. The amount of money flexibility out of request off product “Buttons” is actually ________. (a) Higher than you to (b) Lest than simply you to (c) No (d) You to definitely Address: (c) Zero
138. ‘Bajra’ was an inferior commod¬ity regarding the vision of your own household. Fortsätt läsa The cash suppleness out of tomatoes was 0