Advertisements
Advertisements
प्रश्न
The concept of elasticity of demand was introduced by
विकल्प
Ferguson
Keynes
Adam Smith
Marshall
Advertisements
उत्तर
Marshall
APPEARS IN
संबंधित प्रश्न
The price elasticity of demand for a good is - 0.4. If its price increases by 5 percent, by what percentage will its demand fall? Calculate.
A consumer spends Rs 1000 on a good priced at Rs 8 per unit. When price rises by 25 percent, the consumer continues to spend Rs 1000 on the good. Calculate the price elasticity of demand by percentage method.
A consumer spends Rs 100 on a good priced at Rs 4 per unit. When its price falls by 25 percent, the consumer spends Rs 75 on the good. Calculate the price elasticity of demand by the Percentage method.
A consumer spends Rs 400 on a good priced at Rs 8 per unit. When its price rises by 25 percent, the consumer spends Rs 500 on the good. Calculate the price elasticity of demand by the Percentage method.
Discuss any four factors affecting price elasticity of demand.
Define or explain the following concept.
Unitary elastic demand.
Write a short note on factors determining elasticity of demand.
State whether the following statement is True or False :
Concept of elasticity of demand is useful for finance minister.
State whether the following statement isTrue or False with reason:
The concept of elasticity of demand is useful in economic theory.
What do you mean by a normal good?
Explain price elasticity of demand.
Give reason or explain the following statement.
All desires are not demand.
Fill in the blank with appropriate alternatives given below:
Cross elasticity of demand is applicable to ____________ goods.
State whether the following statement is TRUE and FALSE.
Demand for luxuries is elastic.
Draw a diagram to show the elasticity of demand when it is greater than one.
mention any two examples of composite demand.
The price of a good decreases from ₹100 to 80 per unit. If the price elasticity of demand for the good is 2 and the original quantity demanded is 30 units, calculate the new quantity demanded.
- Luxuries goods have generally elastic demand.
- Goods whose close substitutes are available have inelastic demand.
What does elasticity of demand measure?
