alleryHow does substitute good price relate to demand for the primary good?
ANegative relationship
BInverse relationship
CPositive relationship
DNeutral relationship
Answer & Solution
Correct answer: C. Positive relationship
Substitute prices share a positive mathematical link with primary good demand.
Keep practising Theory of Demand & Elasticity
Browse all Theory of Demand & Elasticity questions for ICSE Class 10, or explore more Economics topics.
Related questions
Match short habit:
1. Need: p. Short run
2. Adapt: q. Living
3. Long: r. ElasticMatch scale concepts:
1. Scale: p. Total
2. Output: q. Percent
3. Ratio: r. ElasticMatch Ricardo view:
1. David: p. Luxury
2. Cap: q. Saved
3. Tax: r. IncomeMatch income spent:
1. Large: p. Elastic
2. Small: q. Low elast
3. Share: r. BudgetMatch MR relation:
1. Pos MR: p. Elastic
2. Mid MR: q. Unit e
3. Neg MR: r. InelastMatch Cournot role:
1. Cournot: p. 1838
2. Prior: q. Marshall
3. Small: r. ChangesMatch point elast:
1. Point: p. Calc
2. Slope: q. dQ by dP
3. Spot: r. ExactMatch linear curve:
1. Upper: p. Elastic
2. Mid: q. Unit point
3. Lower: r. Inelastic