Writ (T) for True and (F) for False Statements: 1. All desires of human beings are known as ‘Demand’.
2. Demand is inversely related with income of the consumer.
3. Supply is the quantity which actually brought by the seller to sell in the market.
4. The stock of perishable goods are similar to the supply quantity.
5. Demand curve goes upward to the right, to show inverse relationship between price and demand for good.
6. When the price of Giffen good increases, its’ demand also increases.
7. Income demand means relationship between price and demand quantity.
8. Size of population is also a determinant of demand.
9. Individual demand means all quantity demanded by buyers in the market.
10. Means and willingness are necessary factors to be demand.