Advanced Questions

1:

Statements:

Assertion - (A): Demand for a commodity refers to quantity of the commodity demanded at a certain price during any particular period of time.

Reason - (R): Contraction of demand is the result of increase in the price of the good concerned.

A.

Both (A) and (R) are correct

B.

Both (A) and (R) are incorrect

C.

(A) is correct but (R) is incorrect

D.

(A) is incorrect but (R) is correct

 

Answer : A

Explanation :

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Option: A

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