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प्रश्न
What is meant by elastic demand?
When is the demand for a commodity said to be elastic?
What is elastic demand?
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उत्तर
When the percentage change in demand is greater than the percentage change in price, demand is known as elastic demand.
संबंधित प्रश्न
The price elasticity of demand for a good is - 0.4. If its price increases by 5 percent, by what percentage will its demand fall? Calculate.
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.
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 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.
A consumer spends Rs 1,000 on a good priced at Rs10 per unit. When its price falls by 20 percent, the consumer spends Rs800 on the good. Calculate the price elasticity of demand by the Percentage method
A consumer spends Rs 400 on a good priced at Rs 8 per unit. When its price rises by 25 percent, the consumer spends Rs 500 on the good. Calculate the price elasticity of demand by the Percentage method.
When the price of good rises from Rs10 to Rs12 per unit, its demand falls from 25 units to 20 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
Write short notes on the Proportional method of measuring the elasticity of demand.
Discuss any four factors affecting price elasticity of demand.
A consumer buys 10 units of a commodity at a price of Rs. 10 per unit. He incurs an expenditure of Rs 200 on buying 20 units. Calculate price elasticity of demand by the percentage method. Comment upon the shape of demand curve based on this information.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
What do you mean by a normal good?
What do you mean by substitutes? Give examples of two goods which are complements of each other.
What do you mean by complements? Give examples of two goods which are complements of each other.
State whether the following statement is TRUE and FALSE.
Concept of Elasticity of Demand is useful for finance minister.
Define or explain the following concept:
Unitary Elastic Demand
Give reason or explain the following statement:
Demand for necessaries is inelastic.
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
Give reason or explain the following statement:
Demand for goods having snob appeal has elastic demand.
State whether the following statement is true or false. Give valid reasons in support of your answer.
The coefficient of price elasticity of demand for the commodity is inversely related to the number of alternative uses of the commodity.
The concept of elasticity of demand was introduced by
What will be the effect on price elasticity of demand, if the time required to find the substitute product is more.
Assertion (A): Elasticity of demand explains that one variable is influenced by another variable.
Reasoning (R): The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.
State with reasons whether you agree or disagree with the following statement:
The elasticity of demand gets influenced by the nature of the commodity.
Explain the term elasticity of demand.
Which type of good typically has inelastic demand?
Which statement about the law of demand and elasticity of demand is true?
