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प्रश्न
If a good takes up a significant share of consumers' budget, its demand will be ______.
विकल्प
Less elastic
Highly elastic
Unitary elastic
Perfectly elastic
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उत्तर
If a good takes up a significant share of consumers' budget, its demand will be highly elastic.
Explanation:
If a good consumes a significant portion of the consumer budget, it implies that it cannot be a necessary comfort or jointly demanded good.
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संबंधित प्रश्न
State whether the following statement is True or False :
Concept of elasticity of demand is useful for finance minister.
Give reasons or explain the following statements
Demand for basic necessities is inelastic.
Define or explain the following concept:
Unitary Elastic Demand
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
What are the degrees of price elasticity of Demand?
If quantity supplied increases by 60% due to a 50% increase in price, then elasticity of supply is ______
Identify the correctly matched pair from the items in Column A by matching them to the items in Column B:
| Column A | Column B | ||
| 1 | Relatively Inelastic Demand | (a) | ed > 1 |
| 2 | Relatively Elastic Demand | (b) | ed < 1 |
| 3 | Perfectly Inelastic Demand | (c) | ed = 0 |
| 4 | Perfectly Elastic Demand | (d) | ed = 1 |
When is the demand for a good said to be elastic?
What does elasticity of demand measure?
