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In india retail price of petrol …

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In india retail price of petrol has significantly fallen during the past 6 monthsbut demand for car has shown any significant rise . Use your economics to explain this fact

    • Posted by Raghav Sharma 7 years, 3 months ago

    CBSE > Class 12 > Economics
    • 4 answers

    Samira . 7 years, 2 months ago

    Nitasha yadav is right but i think her way of explaining is quite difficult.

    1Thank You

    Samira . 7 years, 2 months ago

    In short this is because these are complementary goods . When price of petrol decreases then it results in rise in demand of petrol and petrol is necessary for running car . Due to which demand for car increases without any change in its own price . ?????

    1Thank You

    Lakshita Sharma 7 years, 3 months ago

    According to economics...if the price of a good will fall, then the demand for that good will automatically increase...and vice-versa...so due to inverse relationship between price and demand if the price of petrol will decrese then the demand for car will increase...hope it helped...?

    1Thank You

    Nitasha Yadav 7 years, 3 months ago

    May I think the price and demand so negative relationship due to fall in price petrol increase in demand of petrol demand of car also rise due complimentary goods

    1Thank You

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