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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
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Concept of elasticity of demand is useful for finance minister.
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Demand for habitual goods is inelastic.
Give reason or explain the following statement:
Demand for goods having snob appeal has elastic demand.
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