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प्रश्न
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.
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उत्तर
If a customer waits to buy a car in order to take advantage of greater year-end discounts, the car will have 'elastic demand' because commodities with postponed consumption tend to have elastic demand, meaning that a slight increase in price will force customers to defer their previously planned consumption.
संबंधित प्रश्न
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.
Write Short note on the following.
Ratio method of measuring price elasticity of demand ?
Choose the correct answer :
Perfectly elastic demand curve is _________.
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): The demand for soap, salt, matches etc. is highly elastic.
Reason (R): The demand for soap, salt, matches etc. is highly inelastic because the consumer spends a very small amount of expenditure in relation to his/her income.
State 3 factors which affect price elasticity of demand.
How does the nature of a commodity affect its price elasticity of demand?
What effect do habitual consumption patterns have on price elasticity of demand?
