Basic assumptions of law of demand include ______?
طلب کے قانون کے بنیادی مفروضوں میں ______ شامل ہے؟
- Prices of other goods should change
- The commodity should not confer any distinction
- There should be substitute for the commodity
- The demand for the commodity should not be continuous
Explanation
The basic assumptions of the law of demand include the commodity should not confer any distinction.
This means the law assumes that the commodity being analyzed is homogeneous and that the demand for it is influenced solely by changes in its own price, without considering differences in preferences or the presence of unique attributes.
Related MCQs
MCQs will be added soon
