Question 3
As income increases, the demand for ___________ goods decreases.
NOTE: Enter the exact answer without any extra space in the beginning or at the end. Answers Case Sensitive : No
Question 3: As income increases, the demand for _ goods decreases.\ N…
Show answer
Correct answer: inferior
Question 3 of 18 in the IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 15 Mar 2026, in the January 2026 term (Business Data Management 15 Mar 26). It carries 1 mark.
More questions from this paper
- Based on the image below, all these entities are called _? NOTE: Enter the exact answer without any extra space in the …
- In the economic model, what do firms and households give the government in return for goods, incentives and transfers r…
- For a consumer pyramid survey, if the Primary Sampling Units (PSUs) were the villages and towns of the Census, then wha…
- The concept of Quid-Pro-Quo does not usually apply for enterprises.\ NOTE: Enter the exact answer without any extra spa…
- To understand market segments, what kind for chart will you use?
- What is the function of the "PivotTable" feature in Excel?
- Which is an appropriate referencing method, when a formula used in Column D is Constant Data 1, needs to extend to the …
- What does the law of demand state?
- Which of the following factors is most critical in determining the market potential for a new product ?
- What implication does a bimodal distribution in household transportation expenditure data point to?
- Which of the following scenarios can be best expressed through a Bar chart?
- What can be inferred about the relationship between income and the demand for goods with fixed prices? [Select all that…
- Which of the following conditions can use the concept of "weighted average" to analyse expenditure data?
- Determine the percentage change in total revenue when income increases from Rs 15000 to Rs 25000.
- What is the type of goods based on the given table?
- For an agro business, The ability to grow more vegetables per acre is considered in the porter’s 5 forces model.
- In PESTEL Analysis, what does P and S stand for ?