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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.
Explain the effect of the following on the price elasticity of demand of a commodity:
(i) Number of substitutes
(ii) Nature of the commodity
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 |
Write Short note on the following.
Ratio method of measuring price elasticity of demand ?
Choose the correct answer :
Demand of labour is _______
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.
Elasticity of demand for two goods A and B is -2 and -3 respectively. Then good A has higher elasticity.
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 ______.
Which of the following is the most likely reason for the relatively high elasticity of bottled water?
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.
The nature of a commodity determines its price elasticity of demand. Explain.
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?
Comment upon the shape of the demand curve, if Ed = 0.
State 3 factors which affect price elasticity of demand.
Discuss any three/ four factors determining price elasticity of demand.
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?
