Question : In which of the following cases does the law of demand fail?

Option 1: Giffen goods

Option 2: Normal goods

Option 3: Inferior goods

Option 4: Both Giffen and inferior goods

Question :  Bread, Milk, Readymade clothes, T.V., etc. are examples of _______ goods

Option 1: Producer goods

Option 2: Perishable goods

Option 3: Inferior goods

Option 4: Consumer goods

Question : Buildings, machinery, tools, and equipment are a few examples of the capital goods that firms employ to produce their goods and services.

Option 1: Consumer goods

Option 2: Inferior goods

Option 3: Intermediate goods

Option 4: Capital goods

Question : The concept of cross elasticity of demand is useful for businesses to determine:

Option 1: Pricing strategies for complementary goods.

Option 2: Pricing strategies for substitute goods.

Option 3: Pricing strategies for luxury goods.

Option 4: Pricing strategies for inferior goods.

Question : The concept of cross elasticity of demand is useful for businesses to determine:

Option 1: Pricing strategies for complementary goods.

Option 2: Pricing strategies for substitute goods.

Option 3: Pricing strategies for luxury goods.

Option 4: Pricing strategies for inferior goods.