A change in the price of the commodity itself leads to a movement along the existing demand curve (either expansion or contraction of demand).
Normally, there will not be a shift in the demand curve when
Asked in UPSC CDS 2 2020 · Topic: Nature of Indian Economy (Developing Economy Characteristics)
More Economic Development questions
- A market, in which there are a large number of firms, homogeneous product, infinite elasticity of demand for an individual firm and no control over price by firms, is termed as
- Which one of the following may lead to movement along the demand curve of a commodity ?
- Which one of the following is the opportunity cost of a chosen activity ?
- Which of the following correctly explain that India is underdeveloped economy ? 1. Inequitable distribution of income. 2. High dependency ratio. 3. Slower rate of increase in national income. 4. Change in banking and financial sector. Select the correct answer using the codes given below.
- Certain geographical regions in a country may have economic laws different from the country’s typical economic laws. Which one of the following could be the reason for allowing the differences in economic laws for particular geographical regions?
- The Owners, Employees, Board of Directors and Culture form the organizations ______.
- Geographical Indication tags are typically given for 1. Agricultural products 2. Foodstuffs 3. Handicrafts 4. Wines and spirit drinks 5. Industrial products Select the correct answer code:
- The term ‘Unicorn Company’ often seen in news means