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प्रश्न
Compare inelastic demand with perfectly inelastic demand.
उत्तर
| Inelastic demand | Perfectly inelastic demand |
| When a large change in the price does not bring so much change in the demand, the demand is said to be inelastic. | When quantity demanded does not change at all as a result of change in price of the commodity, demand of that commodity is said to be perfectly inelastic. |
| The slope of the inelastic demand curve is steep. | The demand curve is parallel to Y-axis. |
| Elasticity of demand is less than one. | Elasticity of demand is zero. |
APPEARS IN
संबंधित प्रश्न
Explain, with reasons, whether you Agree or Disagree with the following statement
There are no exceptions to the Law of Demand.
Demand for perishable goods is inelastic.
Demand curve and Supply curve.
Define demand. Name the factors affecting market demand.
When does ‘decrease’ in demand take place?
What is meant by inelastic demand?
The demand of a commodity, when measured through the expenditure approach, is inelastic. A fall in its price will result in : (choose the correct alternative)
(a) No change in expenditure on it.
(b) Increase in expenditure on it.
(c) Decrease in expenditure on it.
(d) Anyone of the above.
Fill in the blank using proper alternatives given in the bracket:
Demand for salt is ...............
Give reason or explain the following statement.
Demand curve slopes downward from left to right.
Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
Answer the following question:
Elaborate the law of demand, with the help of a hypothetical schedule.
Which of the following points relates to the transaction demand for money?
Law of demand states the ______ relationship between price and quantity demanded.
Aggregate demand can be decreased by:
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
What is meant by the contraction of demand?
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain.
The price elasticity of demand for a good depends on ______ and ______ of the good.
Which of the following is the reason behind the downward slope of demand option?
When the price of the commodity has changed the demand for the commodity changes in ______
Identify the correctly matched pair of the items in Column A to that of Column B.
| Column A | Column B | ||
| (1) | Increase in demand for goods | (a) | Leftward shift in the demand curve |
| (2) | Decrease in demand | (b) | Perfectly Elastic Demand |
| (3) | Ed = ∞ | (c) | Increases in the income of the consumer |
| (4) | Downward Sloping | (d) | Income elasticity of Demand |
Milk is used for making curd, sweets and chocolates.
What type of demand does milk have? Give a reason.
