Advertisements
Advertisements
Question
State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for school uniform
Advertisements
Solution
A school uniform is an essential item. So, demand for it will be inelastic.
APPEARS IN
RELATED QUESTIONS
Identify elastic demand when value of Ed is ______.
Which of the following goods has elastic demand?
From the following goods, demand for which is inelastic?
A product's demand is ______ when the time period under consideration is longer.
Mention the degree of price elasticity of demand for the following goods:
Medicine
Mention the degree of price elasticity of demand for the following goods:
School uniform
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
Demand for cigarettes by a habitual smoker.
When is the demand for a commodity said to be perfectly inelastic?
Explain the different types of price elasticity of demand.
What is the price elasticity of demand for the following demand curve?
Rectangular hyperbola
