According to the NCERT glossary, a consumer’s demand function for a good gives the amount of the good that the consumer chooses at different levels of ________, when the other things remain unchanged.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → its price
A demand function links the quantity a consumer chooses to the price of the good itself. Income, prices of related goods and tastes are the ‘other things’ held unchanged.
NCERT (2026-27): Glossary: “Demand function – A consumer’s demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain unchanged.” “2.4.1 Demand Curve and the Law of Demand If the prices of other goods, the consumer’s income and her tastes and preferences remain unchanged, the amount of a good that the consumer optimally chooses, becomes entirely dependent on its price. The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. …” |