UPSC 2021: Consider the following statements : Other things remaining unchanged, market demand for a good might increase if 1. Price of its substitute increases 2. Price of its complement increases 3. The good is an inferior good and income of the consumers increases 4. Its price falls Which of the above statements are correct?

The correct answer is option (a): 1 and 4 only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.

This question was asked in UPSC CSE Prelims 2021, GS Paper 1, as Question 4. It falls under Indian Economy > National Income & Economic Growth.

This question is rated "moderate". It requires sound conceptual understanding of the topic.

UPSC has asked 34 questions from National Income & Economic Growth (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.