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प्रश्न
The concept of elasticity of demand was introduced by
पर्याय
Ferguson
Keynes
Adam Smith
Marshall
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उत्तर
Marshall
APPEARS IN
संबंधित प्रश्न
Income elasticity of demand for inferior goods is negative.
Explain the factors determining the elasticity of demand.
As we move along a downward sloping straight line demand curve from left to right, price
an elasticity of demand : (choose the correct alternative)
(a) remains unchanged
(b) goes on falling
(c) goes on rising
(d) falls initially then rises
A consumer spends Rs 1000 on a good priced at Rs 8 per unit. When price rises by 25 percent, the consumer continues to spend Rs 1000 on the good. Calculate the price elasticity of demand by percentage method.
A consumer spends Rs 60 on a good priced at Rs 5 per unit. When price rises by 20 percent, the consumer continues to spend Rs 60 on the good. Calculate 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 is the elasticity of demand?
State whether the following statements are TRUE or FALSE :
The demand of foodgrains is inelastic.
Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose the price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity.
State whether the following statement is TRUE and FALSE.
Perfectly inelastic demand curve is parallel to the X axis.
Give reason or explain the following statement:
Demand for habitual goods is inelastic.
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
Identify the correct pair of items from the following Columns I and II:
| Columns I | Columns II |
| (1) Perfectly elastic supply | (a) Es > 1 |
| (2) Perfectly inelastic supply | (b) Es < 1 |
| (3) Unitary elastic supply | (c) Es = 1 |
| (4) Relatively elastic supply | (d) Es = 0 |
What will be the effect on price elasticity of demand, if the time required to find the substitute product is more.
Assertion (A): The elastic demand curve for luxuries is flatter than normal.
Reason (R): The coefficient of Elasticity ranges between 0 and 1.
Price elasticity of demand is defined as the percentage change in the quantity demanded of a commodity divided by the percentage change in the price of that commodity.
When is the demand for a good said to be elastic?
What does elasticity of demand measure?
Which type of good typically has inelastic demand?
