Maharashtra State BoardHSC Arts 12th Board Exam
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Choose the Correct Answer : Demand Elasticity of Habitual Goods is _________. - Economics

MCQ

Choose the correct answer :       

Demand elasticity of habitual goods is _________. 

Options

  • (a) more elastic 

  • (b) less elastic 

  • (c) zero elastic 

  • (d) unitary elastic

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Solution

 Demand elasticity of habitual goods is zero elastic.
Explanation:
In case of habitual goods, the quantity demanded does not change even if there is a change in its prices. This is because the consumers are so habitual of consuming such goods, that even when the prices change, they continue to consume it due to habits.

Concept: Change in Demand
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