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प्रश्न
When change in price is greater than the change in quantity demand it is a case of elastic demand.
पर्याय
True
False
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उत्तर
This statement is False.
Explanation:
When the price change is greater than the change in quantity demanded, it is a case of inelastic demand, not elastic demand. Inelastic demand means that the quantity demanded is relatively unresponsive to changes in price. Elastic demand occurs when the percentage change in quantity demanded is greater than in price.
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संबंधित प्रश्न
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
Price elasticity of demand of a good is (-) 1. Calculate the percentage change in price that will raise the demand from 20 units to 30 units.
Discuss any four factors affecting price elasticity of demand.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
State whether the following statement is TRUE and FALSE.
Total outlay is price multiplied by quantity.
Give reason or explain the following statement:
Demand for necessaries is inelastic.
Give reason or explain the following statement:
Demand for goods having snob appeal has elastic demand.
The concept of elasticity of demand was introduced by
The elasticity of demand for school bag will be ______.
Who introduced the concept of elasticity of demand?
