Any statement above demand for a good is considered complete only when the following isare mentioned in it choose the correct alternative CBSE Economics class 12 2017

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Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative) - CBSE Economics class 12 2017

a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
(-Appeared in CBSE economincs class 12, 2017, All India, Set 1 paper)


By:Aparna-Dasgupta

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The correct answer is option (d). Demand is the quantity which a consumer is willing and able to purchase at each possible price during a given period of time. So, the demand for a good is considered correct with four essential items i.e. quantity of the commodity, willingness to purchase, price of the commodity and period of time. 


milan-ransingh

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