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प्रश्न
mention any two examples of composite demand.
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उत्तर
Two examples of composite demand are as follows:
Milk: Milk is a composite good since it has numerous applications and may be consumed in a variety of forms, including curd, ice cream, shakes, cheese, and so on.
Steel: It is a composite good since it may be used to make bus bodies, room coolers, autos, and other items.
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संबंधित प्रश्न
When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit?
State whether the following statements are TRUE or FALSE :
The demand of foodgrains is inelastic.
Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
State whether the following statement is TRUE and FALSE.
Demand for luxuries is elastic.
Define or explain the following concept:
Income Elasticity of Demand
Elasticity of the demand is available when:
What will be the effect on price elasticity of demand, if the time required to find the substitute product is more.
Price elasticity of demand is defined as the percentage change in the quantity demanded of a commodity divided by the percentage change in the price of that commodity.
Who introduced the concept of elasticity of demand?
Which statement about the law of demand and elasticity of demand is true?
