Question : Demand for a product is said to be ______ if it exists independently of demand for other commodities.
Option 1: Derived demand
Option 2: Autonomous demand
Option 3: Industry demand
Option 4: Company demand
Correct Answer: Autonomous demand
Solution : Autonomous or direct demand is the term used to describe the demand for a product that is not related to the demand for other items. The autonomous demand develops as a result of a person's inherent desire to use the goods. Hence B is the correct answer.
Question : Consumer product demand is a ______ demand.
Option 1: Indirect demand
Option 2: Direct demand
Option 3: Constant demand
Question : The demand for labour is called
Option 1: Market demand .
Option 2: Direct demand .
Option 3: Derived demand .
Option 4: Factory demand .
Question : Demand for complementary goods is known as
Option 1: Joint demand .
Option 2: Derived demand .
Option 3: Direct demand .
Option 4: Cross demand .
Question : The demand for the commodity is direct but the demand for a factor of production is called a:
Option 1: crossed demand
Option 2: joint demand
Option 3: derived demand
Option 4: independent demand
Question : Shipping service by an Indian company to a foreign company is a part of
Option 1: Capital account
Option 2: Current account
Option 3: Autonomous items
Option 4: Accommodating items.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile