Question

Read the given statements carefully and select the most appropriate option. (i) In economics, demand means desire backed by the purchasing power and willingness to pay the price. (ii) According to the law of demand when all other things remain constant, if the price rises demand increases and if the price falls demand decreases.

A Both statements (i) & (ii) are false.

B Both statements (i) & (ii) are true.

C Statement (i) is false & statement (ii) is true,

D Statement (i) is true & statement (ii) is false,

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