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प्रश्न
What is meant by inelastic demand?
Give the meaning of inelastic demand.
What is inelastic demand?
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उत्तर
When a large change in the price does not bring so much change in the demand, the demand is said to be inelastic. In this situation, percentage change in demand is lesser than the percentage change in price.
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संबंधित प्रश्न
Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)
a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
State whether the following statement is True or False :
Demand for necessary goods is inelastic.
Fill in the blanks using proper alternatives given in the brackets.
Demand for car and petrol is ____________ de
Write whether the following statement is True or False:
Salt has elastic demand.
fill in the blank with appropriate alternatives given in the bracket:
Demand for salt is ___________.
Explain the following concepts or give definitions.
Demand
Fill in the blank with appropriate alternatives given below:
When the price of petrol goes up, demand of cars will ___________.
Give reason or explain the following statement.
Increase in demand indicates a rightward shift in the demand curve.
Distinguish between desire and demand.
Answer the following question:
Elaborate the law of demand, with the help of a hypothetical schedule.
From the set of statements given in Column A and Column B, choose the correct pair of statement:
| Column A | Column B |
| 1. Reduction of pollution | (a) Microeconomics |
| 2. Problems due to unemployment | (b) Microeconomics |
| 3. Shift in the demand curve | (c) Microeconomics |
| 4. Government expenditure on building of roads | (d) Microeconomics |
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Budget Line | (a) Normal goods |
| (2) Bajra | (b) Inferior goods |
| (3) Consumer equilibrium | (c) Luxurious goods |
| (4) Elastic Demand | (d) M = Px*x + py*y |
Which of the following statements is true?
Which of the following have elastic demand?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
What is meant by the contraction of demand?
Which of the following is the reason behind the downward slope of demand option?
In an open economy, Aggregate Demand is estimated as:
Identify the correctly matched pair of the items in Column A to that of Column B.
| Column A | Column B | ||
| (1) | Increase in demand for goods | (a) | Leftward shift in the demand curve |
| (2) | Decrease in demand | (b) | Perfectly Elastic Demand |
| (3) | Ed = ∞ | (c) | Increases in the income of the consumer |
| (4) | Downward Sloping | (d) | Income elasticity of Demand |
Aggregate demand in macroeconomics includes ______.
