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प्रश्न
What is meant by inelastic demand?
Give the meaning of inelastic demand.
What is inelastic demand?
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उत्तर
When a large change in the price does not bring so much change in the demand, the demand is said to be inelastic. In this situation, percentage change in demand is lesser than the percentage change in price.
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संबंधित प्रश्न
| Group 'A' | Group 'B' | ||
| a. | Pen and ink | 1 | Quantity-price |
| b. | Revenue | 2 | Accident |
| c. | Insurable risk | 3 | Transfer income |
| d. | Unemployment allowance | 4 | Short period |
| e. | Reverse repo rate | 5 | Long period |
| 6 | Change in demand | ||
| 7 | Joint demand | ||
| 8 | Quantity * price |
When does ‘decrease’ in demand take place?
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
State whether the following statement is True or False :
Demand for necessary goods is inelastic.
State whether the following statement is true or false.
Perfectly inelastic demand curve is parallel to ‘X’ axis.
Write whether the following statement is True or False:
Demand for commodities depends upon various factors.
Fill in the blank with appropriate alternatives given in the bracket:
The law of demand states ________ relation between demand and price.
Fill in the blank with appropriate alternatives given below:
When the price of petrol goes up, demand of cars will ___________.
State whether the following statement is TRUE and FALSE
Individual demand is a demand by single buyer.
What do you mean by demand?
Answer the following question:
Elaborate the law of demand, with the help of a hypothetical schedule.
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Budget Line | (a) Normal goods |
| (2) Bajra | (b) Inferior goods |
| (3) Consumer equilibrium | (c) Luxurious goods |
| (4) Elastic Demand | (d) M = Px*x + py*y |
Which of the following statements is true?
Which of the following statements is true?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
What is meant by the contraction of demand?
"Market demand curve is constructed by horizontally summing all the individual's demand curves at each and every price." Choose the correct option for the above-mentioned statement.
Which of the following statements is true?
Which of the following statements is true?
Aggregate demand in macroeconomics includes ______.
