HSC Arts 12th Board ExamMaharashtra State Board
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Demand for the Commodity Having Multiple Uses Has Elastic Demand. - HSC Arts 12th Board Exam - Economics

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Questions

Demand for the commodity having multiple uses has elastic demand.

Give reasons or explain the following

Demand for the commodity having multiple uses is elastic.

Solution

Demand for a commodity which satisfies different kinds of uses has more elastic demand. Such good which satisfies various wants at a single time is said to be composite goods. For instance, electricity for domestic purpose is composite demand as it is used for various purposes. The demand for such commodities is elastic.

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APPEARS IN

 2015-2016 (March) (with solutions)
Question 2.2.3 | 2.00 marks
 2013-2014 (March) (with solutions)
Question 2.2.3 | 2.00 marks

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Solution Demand for the Commodity Having Multiple Uses Has Elastic Demand. Concept: Elasticity of Demand.
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