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Economics miscellaneous

  1. The demand for which of the following commodity will not rise
    in spite of a fall in its price?
    1. Television
    2. Refrigerator
    3. Salt
    4. Meat
Correct Option: C

For certain goods called necessities, demand is not related to income. Demand for salt does not increase with the increase in income & does not decrease with the decrease in income. It means that it is irrespective of income. The demand curve slopes downward for goods like salt, but it is inelastic.



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