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प्रश्न
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
A consumer prefers to postpone the purchase of a car to avail more of year ending discount.
उत्तर
If a customer waits to buy a car in order to take advantage of greater year-end discounts, the car will have 'elastic demand' because commodities with postponed consumption tend to have elastic demand, meaning that a slight increase in price will force customers to defer their previously planned consumption.
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संबंधित प्रश्न
Explain any two factors that affect the price elasticity of demand. Give suitable examples.
Match the following :
| Group 'A' | Group 'B' |
| (a) Demand and price | (1) wages |
| (b) Perfectly elastic supply | (2) Vertical supply curve |
| (c) Land | (3) Transfer income |
| (d) Unemployment allowance | (4) Horizontal supply curve |
| (e) Reserve Bank of India | (5) Inverse relation |
| (6) Rent | |
| (7) 1935 | |
| (8) Direct relation |
State whether the following statement is true or false :
Concept of ‘elasticity of demand’ is useful for the finance minister.
Choose the correct answer :
The account in which the specific amount is deposited per month regularly is known as _________.
When the price elasticity of demand for a good equals ______.
Assertion (A): The demand for soap, salt, matches etc. is highly elastic.
Reason (R): The demand for soap, salt, matches etc. is highly inelastic because the consumer spends a very small amount of expenditure in relation to his/her income.
The nature of a commodity determines its price elasticity of demand. Explain.
When will the demand curve be parallel to x-axis?
State 3 factors which affect price elasticity of demand.
How does the nature of a commodity affect its price elasticity of demand?
