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प्रश्न
State 3 factors which affect price elasticity of demand.
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उत्तर
Three factors which affect price elasticity of demand are:
- Nature of commodity
- Availability of substitutes
- Habits
संबंधित प्रश्न
Explain any two factors that affect the price elasticity of demand. Give suitable examples.
State whether the following statement is true or false :
Concept of ‘elasticity of demand’ is useful for the finance minister.
Write Short note on the following.
Ratio method of measuring price elasticity of demand ?
Choose the correct answer :
Perfectly elastic demand curve is _________.
Match the following:
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Group A
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Group B
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1. Cars and petrol
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a. Elastic demand
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2. Point method
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b. Complementary
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3. Necessary goods
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c. Geometric method
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d. Inelastic demand
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The coefficient of price elasticity of demand for Good X is (−) 0.2. If there is a 5% increase in the price of the good, by what percentage will the quantity demanded for the good fall?
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
A consumer prefers to postpone the purchase of a car to avail more of year ending discount.
The price of Y falls from ₹ 8 to ₹ 6. The quantity demanded increases from 100 units to 125 units. The price electricity of demand will be ______.
The nature of a commodity determines its price elasticity of demand. Explain.
How does the availability of substitutes of a commodity affect its price elasticity of demand?
Explain briefly the factors on which elasticity of demand depends.
When will the demand curve be parallel to x-axis?
Comment upon the shape of the demand curve, if Ed = 0.
Discuss any three/ four factors determining price elasticity of demand.
How does the nature of a commodity affect its price elasticity of demand?
How does the nature of a good affect its elasticity of demand?
Which statement correctly describes the relationship between postponement and price elasticity?
