Question : _____ is the aggregates of the quantities demanded by all consumers in the market at different prices per unit of time.
Option 1: Household Demand
Option 2: Market Demand
Option 3: Individual Demand
Option 4: Industrial Demand
Correct Answer: Market Demand
Solution : Market demand is the aggregates of the quantities demanded by all consumers in the market at different prices per unit of time. Hence option b is the correct answer.
Question : Administered prices refer to:
Question : Demand in economics means:
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Question : A product has an initial quantity demanded of 100 units at a price of INR 10 per unit. Due to a price change, the new quantity demanded is 120 units. Calculate the price elasticity of demand.
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