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State Whether the Following Statements Are True Or False : the Demand of Foodgrains is Inelastic. - Economics

State whether the following statements are TRUE or FALSE :  

The demand of foodgrains is inelastic. 

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Solution

True, the demand of foodgrains is inelastic.
Explanation:
Demand of foodgrains is inelastic in nature as they are necessity goods for the survival of an individual. Thus, a change in prices of such goods will not lead to much change in the quantity demanded.

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