Other things remaining unchanged, market demand for a good might increase if 1. price of its substitute increases 2. price of its complement increases 3. the good is an inferior good and income of the consumers increases 4. its price falls Which of the above statements are correct?

Other things remaining constant, the market supply for a good increases if : 1. its price increases. 2. price of its factors of production decreases. 3. price of other goods decreases. Select the cor…

Suppose there are only two normal goods in the economy, X and Y. If price of good X increases, which would be the correct statement from below?

Given below are two statements, one is labelled as Assertion (A) and the other as Reason (R). Assertion (A): Consumers can bargain below Maximum Retail Price (MRP). Reason (R): MRP is a price a selle…

With reference to the Consumer Disputes Redressal at district level in India, which one of the following statements is not correct ?

A market, in which there are a large number of firms, homogeneous product, infinite elasticity of demand for an individual firm and no control over price by firms, is termed as