Advertisements
Advertisements
प्रश्न
What is meant by elastic demand?
When is the demand for a commodity said to be elastic?
What is elastic demand?
Advertisements
उत्तर
When the percentage change in demand is greater than the percentage change in price, demand is known as elastic demand.
संबंधित प्रश्न
Demand for the commodity having multiple uses has elastic demand.
Price elasticity of demand of goods X is -2 and goods Y is -3. Which of the two goods is more price elastic and why?
A consumer buys 18 units of a good at a price of Rs 9 per unit. The price elasticity of demand for the good is (–) 1. How many units the consumer will buy at a price of Rs 10 per unit? Calculate.
When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit?
A consumer spends Rs 1,000 on a good priced at Rs10 per unit. When its price falls by 20 percent, the consumer spends Rs800 on the good. Calculate the price elasticity of demand by the Percentage method
A consumer buys 30 units of a good at a price of the Rs10per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs 9 per unit? Calculate.
Explain any 'two methods' of measuring price elasticity of demand.
Discuss any four factors affecting price elasticity of demand.
A consumer spends Rs 400 on a good priced at Rs 4 per unit. When the price rises by 25 percent, the consumer continues to spend Rs 400. Calculate the price elasticity of demand by percentage method.
Write a short note on factors determining elasticity of demand.
Give reason or explain the following statement.
All desires are not demand.
The demand for salt is ______.
Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
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.
Total outlay is price multiplied by quantity.
Give reason or explain the following statement:
Demand for commodity having multiple uses has elastic demand.
Draw a diagram to show the elasticity of demand when it is greater than one.
Define price elasticity of demand.
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
The concept of elasticity of demand was introduced by
Assertion (A): The elastic demand curve for luxuries is flatter than normal.
Reason (R): The coefficient of Elasticity ranges between 0 and 1.
mention any two examples of composite demand.
When is the demand for a good said to be elastic?
Which statement about the law of demand and elasticity of demand is true?
