Advertisement Remove all ads

The Demand for Salt is _____________ - Economics

MCQ

The demand for salt is _____________.

Options

  • elastic

  • inelastic

  • infinitely elastic

  • unitary elastic

Advertisement Remove all ads

Solution

The demand for 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.

Concept: Types of Demand
  Is there an error in this question or solution?
Advertisement Remove all ads
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×