Advertisements
Advertisements
Question
Choose the correct answer :
The demand of a salt is _________.
Options
(a) Inelastic
(b) Elastic
(c) Elasticity more than one
(d) Elasticity less than one
MCQ
Advertisements
Solution
The demand of a salt is inelastic.
Explanation:
Salt has inelastic demand. This is because salt has no close substitutes and makes up a very small amount of the household budget. Due to this, a change in prices of salt has a little or no impact on its quantity demanded.
shaalaa.com
Is there an error in this question or solution?
