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प्रश्न
State whether the following statement is true or false :
Concept of ‘elasticity of demand’ is useful for the finance minister.
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उत्तर
Concept of ‘elasticity of demand’ is useful for the finance minister True .
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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.
Explain the effect of the following on the price elasticity of demand of a commodity:
(i) Number of substitutes
(ii) Nature of the commodity
Write Short note on the following.
Ratio method of measuring price elasticity of demand ?
Choose the correct answer :
Perfectly elastic demand curve is _________.
Choose the correct answer :
Demand of labour is _______
Choose the correct answer :
Demand of electricity for domestic purpose is _________.
State whether the following statements are TRUE or FALSE :
The demand of foodgrains is inelastic.
Match the following:
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Group A
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Group B
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1. Cars and petrol
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a. Elastic demand
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2. Point method
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b. Complementary
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3. Necessary goods
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c. Geometric method
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d. Inelastic demand
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The coefficient of price elasticity of demand for Good X is (−) 0.2. If there is a 5% increase in the price of the good, by what percentage will the quantity demanded for the good fall?
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
The demand for salt by households.
The government wants to reduce the consumption of good by 10%. The price elasticity of demand for elasticity is -0.4. The government should raise the price of elasticity by ______.
When the price elasticity of demand for a good equals ______.
Which of the following is the most likely reason for the relatively high elasticity of bottled water?
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.
How does the availability of substitutes of a commodity affect its price elasticity of demand?
Comment upon the shape of the demand curve, if Ed = 0.
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?
Which statement correctly describes the relationship between postponement and price elasticity?
What effect do habitual consumption patterns have on price elasticity of demand?
