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प्रश्न
The demand for salt is _____________.
विकल्प
elastic
inelastic
infinitely elastic
unitary elastic
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उत्तर
The demand for salt is inelastic.
Explanation:
Salt has inelastic demand. This is because salt has no close substitutes and makes up a very small amount of the household budget. Due to this, a change in prices of salt has a little or no impact on its quantity demanded.
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संबंधित प्रश्न
Distinguish between expansion in demand and increase in demand.
A perfectly inelastic demand curve is parallel to 'Y' axis.
Distinguish between Individual demand and Market demand.
Distinguish between the following:
Direct demand and Indirect demand.
Explain with reason whether you 'agree' or 'disagree' with the following statement:
There are many types of demands.
Define or explain the following concepts (Any THREE):
Individual demand
Match the following Group ‘A’ with Group ‘B’:
| Group ‘A’ | Group ‘B’ |
| (a) Electricity | (1) Joint demand |
| (b) Perfectly elastic demand | (2) Lord Keynes |
| (c) Aggregate supply | (3) Prof. Pigou |
| (d) Propensity to consume | (4) Fixed deposits |
| (e) Higher interest rate | (5) Composite demand |
| (6) Demand curve parallel to ‘X’ axis | |
| (7) Natural resources |
Define or Explain the concept
Perfectly elastic demand
State whether the following statements are True or False with reason:
Demand for medicine is inelastic.
Distinguish between Joint demand and Composite demand.
Define the following concept:
Demand
Define or explain the following concept:
Increase in demand
Explain the following concept:
Market demand schedule
Write short note:
Giffen's paradox
Write short note:
Concept of demand
Give an economic term:
A commodity which can be put to several uses.
Explain any four types of demand.
Complete the correlation.
Direct demand : Food and Mobiles : ______ : Land and Labour.
Distinguish between:
Joint/complementary demand and competitive demand.
Find the odd word out:
Direct demand:
Find the odd word out:
Useful products:
Distinguish between derived demand and composite demand.
Find the odd word out:
Types of demand:
Identify and explain the following concept:
Due to mandatory use of masks during corona epidemic the demand for mask-producing labour has increased.
State with reasons whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
Demand for milk is an example of composite demand.
Define joint demand.
Define composite demand.
An increase in the price of electricity will cause the demand for electric appliances to ______.
The demand for goods which can be put to several uses is known as ______.
Electricity is an example of ______ demand.
Which is meant by derived demand?
What is market demand?
If all families together buy 10,000 litres of milk daily, what does this number represent?
What is ex-ante demand?
Which goods are in joint demand?
On what does derived demand depend?
What does 'composite demand' mean?
Which statement explains price demand?
For normal goods, how does demand change with rising income?
How does substitute goods’ demand react when the price of one rises?
What is direct demand?
