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 : When the price of a car goes up, demand for petrol will______?

Option 1: Rise

Option 2: Fall

Option 3: Remains Constant

Option 4: None of the above.

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 : For an inferior good , demand falls when 

Option 1: Price rises .

Option 2: Income rises.

Option 3: Price fall.

Option 4: Income fall.

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