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प्रश्न
State 3 factors which affect price elasticity of demand.
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उत्तर
Three factors which affect price elasticity of demand are:
- Nature of commodity
- Availability of substitutes
- Habits
संबंधित प्रश्न
Explain any two factors that affect the price elasticity of demand. Give suitable examples.
How does change in the price of complementary good affect the demand for the given good? Explain with the help of an example.
A 5 percent fall in the price of a good raises its demand from 300 units to 318 units. Calculate its price elasticity of demand.
Match the following :
| Group 'A' | Group 'B' |
| (a) Demand and price | (1) wages |
| (b) Perfectly elastic supply | (2) Vertical supply curve |
| (c) Land | (3) Transfer income |
| (d) Unemployment allowance | (4) Horizontal supply curve |
| (e) Reserve Bank of India | (5) Inverse relation |
| (6) Rent | |
| (7) 1935 | |
| (8) Direct relation |
Define or explain the following concepts (Any THREE):
Stock
Choose the correct answer :
Perfectly elastic demand curve is _________.
State whether the following statements are TRUE or FALSE :
The demand of foodgrains is inelastic.
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
A consumer prefers to postpone the purchase of a car to avail more of year ending discount.
The price of Y falls from ₹ 8 to ₹ 6. The quantity demanded increases from 100 units to 125 units. The price electricity of demand will be ______.
When the price elasticity of demand for a good equals ______.
Assertion (A): Demand for a commodity with large number of substitutes with be less elastic.
Reason (R): With large number of substitutes, even a small rise in its price will induce the buyers to go for its substitutes.
How does the availability of substitutes of a commodity affect its price elasticity of demand?
Explain briefly the factors on which elasticity of demand depends.
When will the demand curve be parallel to x-axis?
How does the nature of a good affect its elasticity of demand?
Which of the following correctly describes the relationship between availability of substitutes and price elasticity of demand?
What type of demand characterizes necessity goods compared to luxury goods?
How does the time period affect the elasticity of demand?
Which statement correctly describes the relationship between postponement and price elasticity?
