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प्रश्न
Elasticity of demand is equal to one indicates
पर्याय
Unitary Elastic Demand
Perfectly Elastic Demand
Perfectly Inelastic Demand
Relatively Elastic Demand
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उत्तर
Unitary Elastic Demand
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संबंधित प्रश्न
Demand for the commodity having multiple uses has elastic demand.
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.
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 spends Rs 200 on a good priced at Rs 5 per unit. When the price falls by 20 percent, he continues to spend Rs 200. Find the price elasticity of demand by percentage method.
State whether the following statement is True or False :
Concept of elasticity of demand is useful for finance minister.
What do you mean by an ‘inferior good’? Give some examples.
Fill in the blank with appropriate alternatives given below:
Perfectly elastic demand curve is ________________.
State whether the following statement is TRUE and FALSE.
Total outlay is price multiplied by quantity.
Define the following concept:
Cross Elasticity of Demand
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
The concept of elasticity of demand was introduced by
Elasticity of the demand is available when:
Identify the correctly matched pair from the items in Column A by matching them to the items in column B:
| Column A | Column B |
| 1. Increase or decrease in demand for a commodity does not cause any change in its price. | (a) Effect on supply, in the case of Perfectly Elastic Demand. |
| 2. Increase or decrease in demand causes a change in the price of the commodity. Equilibrium quantity remains constant. | (b) Effect on demand, in the case of Perfectly Inelastic Supply. |
| 3. Increase or decrease in demand cause a change in the price of the commodity. Equilibrium quantity remains constant. | (c) Effect on demand, in the case of Perfectly Elastic Supply. |
| 4. Increase or decrease in demand for a commodity does not cause any change in its price. | (d) Effect on supply, in the case of Perfectly Elastic Demand. |
Explain the term elasticity of demand.
When change in price is greater than the change in quantity demand it is a case of elastic demand.
Define elasticity of demand.
What is meant by elastic demand?
Who introduced the concept of elasticity of demand?
