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    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. Correct Answer Incorrect Answer
    B Both statements (i) & (ii) are true. Correct Answer Incorrect Answer
    C Statement (i) is false & statement (ii) is true, Correct Answer Incorrect Answer
    D Statement (i) is true & statement (ii) is false, Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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