Sandeep Garg Microeconomics Solutions Class 11 – Chapter 3 Demand

Chapter 3 of Sandeep Garg's Microeconomics Solutions for Class 11 Expert Economics teachers demonstrate demand in the latest edition of Sandeep Garg Microeconomics Class 11 textbook solutions. Sandeep Garg economics class 11 Solutions are provided by MNs EdTech to provide students with a detailed understanding of the subject. These experiences provide students with a priceless advantage when it comes to completing homework or preparing for exams. There are several principles in economics, but we at MNs EdTech provide students with a Demand solution that will help them perform well on their board exams.

Sandeep Garg Solutions Class 11 – Chapter 3 – Part A – Microeconomics

Sandeep Garg Solutions Class 11 – Chapter 3 – Part A – Microeconomics

Question 1

What is Demand?

Ans: Demand is an economic principle that refers to the consumers desire to purchase goods and services and their willingness to pay a particular price for those goods and services.

Question 2

What are the Determinants of Demand?

Ans: The Determinants of Demands are:

• Price of the given commodity
• Price of related goods
• The income of the customer
• Tastes and preferences
• The expectation of change in the price in future

Question 3

What is the demand function?

Ans: Demand function shows the relationship between quantity demanded a particular commodity and the factors influencing it.

Question 4

Define the law of demand.

Ans: The law of demand states the inverse relationship between price and quantity demanded, keeping other factors constant (ceteris paribus).

Question 5

What are Complementary goods?

Ans: Complementary goods are those goods which are used together to satisfy a particular want.

Question 6

Define Normal goods.

Ans: Normal goods are referred to as those goods that witness an increased demand corresponding to rise in income of consumers. The demand for normal goods are determined by the state of income of the consumer. If consumer income increases, demand increases and if income decreases, demand also declines.

Question 7

What are Inferior Goods?

Ans: Inferior goods refer to those goods whose demand decreases with an increase in income. And, this is known as Inferior goods.