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The Demand for Salt is _____________ - Economics

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MCQ

The demand for salt is _____________.

Options

  • elastic

  • inelastic

  • infinitely elastic

  • unitary elastic

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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
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