Demand and Supply

What does the law of demand state?

If the price of tea increases, what is the likely effect on the demand for coffee (a substitute)?

Which of the following will cause a rightward shift in the supply curve of wheat in India?

What happens to the equilibrium price and quantity if both demand and supply increase simultaneously?

Which formula correctly represents price elasticity of demand (PED)?

In India, during the festival season, the demand for sweets increases. Which factor of demand is responsible?

If the supply curve is perfectly inelastic, what is the shape of the supply curve?

Which of the following is NOT a determinant of demand?

What is the effect of imposing a price ceiling below the equilibrium price in the Indian housing market?

Given the demand function Qd = 100 - 2P and supply function Qs = 20 + 3P, find the equilibrium price (P) and quantity (Q).