Question : The law of demand states that when _____.

Option 1: income and price rise demand rises

Option 2: income rises demand rises

Option 3: price rises demand rises

Option 4: price falls demand rises

Question : Demand contraction occurs when:

Option 1: Price falls but demand remains stable

Option 2: Price rises and demand also rises
 

Option 3: Price remains stable and demand falls

Option 4:  Price rises and demand falls

Question : Law of Demand states that there is a negative relationship between ______.

Option 1: demand for a commodity and its supply

Option 2: demand for a commodity and its price

Option 3: tax on a commodity and its price

Option 4: supply of a commodity and its price

Question : Demand contraction occurs when:

Option 1: Price falls but demand remains stable

Option 2: Price rises and demand falls
 

Option 3: Price remains stable and demand falls

Option 4: Price rises and demand also rises

Question : With the rise in tea price, the demand for coffee:
 

Option 1: Fall

Option 2: Rises

Option 3: Constant

Option 4: None of the above