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.
The GST Council was constituted under which Indian Constitution article?
Match List-I with List-II and choose the correct answer from the codes below:
CESL has achieved a remarkable milestone of distributing _____ lakhs LED bulbs under Project Crore of their Gram Ujala program, till March 31, 2022.
The highest Lake of India is?
When was the Parliamentary Forum on Millennium Development Goals created?
Major disasters and their timing do not match correctly?
The government has notified the Production Linked Incentive (PLI) scheme for textiles, specifically aimed at boosting the production of MMF. Fin...
Who is the current head of NCAER(National Council of Applied Economic Research?
Which of the following is not a member of SAARC (South Asian Association for Regional Corporation)?
At which place has the Eklavya Model Residential School been approved by the Ministry of Tribal Affairs, Government of India for the financial year 2021...
