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प्रश्न
Mention one example of inelastic demand. Give a reason in support of your answer.
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उत्तर
A frequent smoker's appetite for cigarettes is an example of inelastic demand because he cannot stop his usage even as the price rises.
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संबंधित प्रश्न
With the help of a graph explain a perfectly inelastic demand curve.
Degrees of price elasticity of demand is of ______ types.
A demand curve which takes the form of a vertical line parallel to the price axis illustrates elasticity, which is ______.
When despite of no change in the price of the good, its quantity demanded increases from 10 units to 15 units, then coefficient of price elasticity will be ______.
Mention the degree of price elasticity of demand for the following goods:
Cosmetics
Mention the degree of price elasticity of demand for the following goods:
Medicine
Mention the degree of price elasticity of demand for the following goods:
Air conditioners
When is the demand for a commodity said to be perfectly inelastic?
Explain the different types of price elasticity of demand.
State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for electricity
