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प्रश्न
What is meant by elastic demand?
When is the demand for a commodity said to be elastic?
What is elastic demand?
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उत्तर
When the percentage change in demand is greater than the percentage change in price, demand is known as elastic demand.
संबंधित प्रश्न
As we move along a downward sloping straight line demand curve from left to right, price
an elasticity of demand : (choose the correct alternative)
(a) remains unchanged
(b) goes on falling
(c) goes on rising
(d) falls initially then rises
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.
When the price of a good falls from Rs 10 to Rs 8 per unit, its demand rises from 20 units to 24 units. What can you say about price elasticity of demand of the good through the expenditure approach?
When the price of good rises from Rs10 to Rs12 per unit, its demand falls from 25 units to 20 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
A consumer buys 27 units of a good at a price of Rs 10 per unit. When the price falls to Rs 9 per unit, the demand rises to 30 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
Price elasticity of demand of a good is (-) 1. Calculate the percentage change in price that will raise the demand from 20 units to 30 units.
A consumer buys 10 units of a commodity at a price of Rs. 10 per unit. He incurs an expenditure of Rs 200 on buying 20 units. Calculate price elasticity of demand by the percentage method. Comment upon the shape of demand curve based on this information.
State whether the following statement is True or False :
Concept of elasticity of demand is useful for finance minister.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
What do you mean by a normal good?
What do you mean by substitutes? Give examples of two goods which are complements of each other.
Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose the price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity.
The demand for salt is ______.
Define the following concept:
Cross Elasticity of Demand
Define or explain the following concept:
Unitary Elastic Demand
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
Write short answer for the following question :
Total outlay method of measuring price elasticity of demand.
Draw a diagram to show the elasticity of demand when it is greater than one.
State whether the following statement is true or false. Give valid reasons in support of your answer.
The coefficient of price elasticity of demand for the commodity is inversely related to the number of alternative uses of the commodity.
Answer the following question.
When the price of X doubles, its quantity demanded falls by 60 percent. Calculate its price elasticity of demand. What should be the percentage change in price so that its quantity demanded doubles?
What are the degrees of price elasticity of Demand?
What will be the effect on price elasticity of demand, if the time required to find the substitute product is more.
mention any two examples of composite demand.
The elasticity of demand for school bag will be ______.
Explain the term elasticity of demand.
Define elasticity of demand.
Which type of good typically has inelastic demand?
What is unit elasticity of demand?
