Advertisements
Advertisements
प्रश्न
What type of demand characterizes necessity goods compared to luxury goods?
पर्याय
Necessities have elastic demand, while luxuries have inelastic demand.
Necessities have inelastic demand, while luxuries have elastic demand.
Both necessities and luxuries have the same elasticity.
Necessities are always inelastic, and luxuries are always elastic.
MCQ
Advertisements
उत्तर
Necessities have inelastic demand, while luxuries have elastic demand.
Explanation:
Necessities are essential, so demand remains inelastic even with price changes. Luxuries are optional, making their demand elastic.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
