Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Consumer behaviour

Question:

The relation between the consumers demand for a good and the price of the good is likely to be __________ in general.

Which of the following options fits best in the above blank?

Options:

Positive

Neutral

No relation

Negative

Correct Answer:

Negative

Explanation:

In general, as the price increases, demand of the product decreases, implying a negative relation.