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प्रश्न
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.
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उत्तर
If a customer waits to buy a car in order to take advantage of greater year-end discounts, the car will have 'elastic demand' because commodities with postponed consumption tend to have elastic demand, meaning that a slight increase in price will force customers to defer their previously planned consumption.
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संबंधित प्रश्न
Choose the correct answer :
Perfectly elastic demand curve is _________.
Choose the correct answer :
Demand of labour 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 nature of a commodity determines its price elasticity of demand. Explain.
Explain briefly the factors on which elasticity of demand depends.
Comment upon the shape of the demand curve, if Ed = 0.
Discuss any three/ four factors determining price elasticity of demand.
Which of the following correctly describes the relationship between availability of substitutes and price elasticity of demand?
What type of demand characterizes necessity goods compared to luxury goods?
What effect do habitual consumption patterns have on price elasticity of demand?
