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What is meant by elasticity of demand?

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प्रश्न

What is meant by elasticity of demand?

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उत्तर

Elasticity of demand refers to the degree to which a commodity’s quantity demanded responds to changes in any of its key determinants, such as its own price, consumer income, or the pricing of related goods.

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पाठ 2: Elasticity of Demand - QUESTIONS [पृष्ठ ४९]

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गोयल ब्रदर्स प्रकाशन Economic Applications [English] Class 10 ICSE
पाठ 2 Elasticity of Demand
QUESTIONS | Q 8. (a) | पृष्ठ ४९
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