Question
The demand in economics
means:Solution
In economics, demand refers to the desire for a good or service combined with the ability to purchase that good or service. This is often called effective demand. The key element of demand is the purchasing power, meaning the consumer must not only want a good but also have the financial means to buy it. Thus, the correct answer is (d) demand backed by purchasing power.
Which of the following four-firm concentration ratios is most consistent with monopolistic competition?
Park Test is used for which of the following?
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In which year FRBM Act was enacted ?
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In the IS-LM model, what happens if the demand for money (money holding) increases, all else being equal?
Consider the following:
Assertion (A): According to Peacock-Wiseman hypothesis, public expenditure increases overtime in a step-by-step manner.
