plz solve mcq of economy ..need urgent ... ans only if know
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plz solve mcq of economy ..need urgent ... ans only if know
plz solve mcq of economy ..need urgent ... ans only if know
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Answer:
Hey!!!!!!!!
What do you mean by demand of commodity??
Answer: D)
Explanation:
People demand goods because they satisfy the wants of the people. The utility means want- satisfying power of a commodity. It is also defined as the amount of satisfaction which a person derives from consuming a commodity. Utility is a subjective entity and resides in the minds of men.
Being subjective it varies with different persons, that is, different persons derive different amounts of utility from a given good. People know utility of goods by means of introspection. The desire for a commodity by a person depends upon the utility he expects to obtain from it.
If change in price of good A affects the demand of good B, then???
Answer: A)