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प्रश्न
Draw a straight-line demand curve joining both the axes. Indicate the following on the demand curve.
Elasticity of demand is equal to zero
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उत्तर
A straight-line demand curve joining both the axes is shown below:
The elasticity of demand is different at different points.
`"measured by Elasticity" = "Lower segment of demand curve"/ "Upper segment of demand curve"`
The elasticity of demand is equal to zero at point A on the diagram, as the lower segment is zero.
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संबंधित प्रश्न
Market of a commodity is in equilibrium. Demand for the commodity "increases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.
Prices of other goods and demand for the given good.
Good Y is a substitute of good X. The price of Y falls. Explain the chain of effects of this change in the market of X.
If with the rise in the price of good Y, demand for good X rises, the two goods are: (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Jointly demanded
Write explanatory notes or answer the following.
Aggregate demand
Do you agree with the following statement? Give reason
State and explain the law of demand.
State with reasons whether you ‘agree’ or ‘disagree’ with the following statement.
Demand curve slopes downward from left to right.
Statements related to decrease in demand
- It is a type of change in demand
- It takes place due to unfavourable changes in other factors like tastes, income etc.
- Price remains constant
- Demand curve shifts to the right hand side of the original demand curve
Assertion (A): The demand curve is downward sloping.
Reason (R): The income effect means with a fall in the price of a good, the consumer's real income or purchasing power rises and he demands more units of the good.
- Assertion (A): The demand curve slopes downwards.
- Reasoning (R): A fall in the price of goods increases the real income of the consumer enabling him/her to buy more.
Study the following table and answer the questions:
| Price of Ice Cream (₹) | Quantity Supplied | Market Supply | ||
| Seller A | Seller B | Seller C | (A + B + C) | |
| 50 | 0 | 2 | 5 | 7 |
| 100 | 1 | `square` | 10 | 15 |
| 150 | `square` | 6 | 15 | 23 |
| 200 | 3 | 8 | 20 | `square` |
| 250 | 4 | 10 | `square` | 39 |
Questions:
- Complete the above table.
- State whether the following statements are True or False.
(a) Market supply has a direct relation to price.
(b) As the price rises from ₹50 to ₹250, market supply rises from 7 to 39. This indicates an increase in supply.
Study the following diagram and answer the questions:
Questions:
- In which direction does the demand curve slope?
- What is the reason for the fall in demand of rice from Q0 to Q1?
Figures (A), (B) and (C) given below represent different types of Demand curves.
 |
 |
 |
| (A) | (B) | (C) |
What kind of goods do each of these Demand curves represent? Give a reason for each of the curves.
How is the market demand curve constructed from individual demand curves?
What causes movement along the demand curve, not a shift of the curve?
In a demand schedule, what do the X-axis and Y-axis represent when plotting the demand curve?
Why is the demand curve useful for businesses?
