Question
As a result of an increase in consumer incomes, the
demand for XYZ good has decreased. Based on this information, what can we definitely say about what type of good XYZ is?Solution
Inferior goods are goods whose demand is reduced with increasing consumer income. Inferior goods are very low-priced goods and are of much lower quality related to other goods. Income growth allows the consumer to change their choices and buy substitutes of superior quality.
Who among the following has NOT been appointed as a new external member of the RBI’s Monetary Policy Committee (MPC)?
Which of the following countries is not a member of the SAARC (South Asian Association for Regional Cooperation).
What is the validity of the NRA CET scorecard?
A tribal festival called Medaram Jatara will soon get the tag of National Festival. This festival is observed in:
RBI imposed Rs 1 crore penalty on State Bank of Travancore for violating instructions as reported by which rating agency?
Match List-I with List-II and select the correct answer using the code given below:
Irani Cup is related to which game?
Who established the non-governmental organization Hitaishi India?
Which of the following motions can be moved only in Lok Sabha?Â
1. Adjournment motionÂ
2. Cut MotionÂ
3. Non-Confidence Motion ...
Which of the following countries became the first to receive WHO verification for eliminating leprosy?
