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प्रश्न
When is the demand for a good said to be inelastic?
उत्तर
When the percentage change in demand for a good is less than the percentage change in its price, the demand for a good is inelastic.
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संबंधित प्रश्न
Income of the buyers and demand for a good.
When does 'change in demand' take place?
Explain the change in demand of a good on account of change in prices of related goods.
Explain how the demand for a good is affected by the prices of its related goods. Give examples.
Give reasons or Explain the following statements.
All desires are not demand.
Choose the correct answer :
The demand of a salt is _________.
State Whether the following statements are TRUE or FALSE:
Demand will not increase by coming of new customers.
State Whether the following statements are TRUE or FALSE:
Demand elasticity concept is useful for labour unions.
Choose the correct answer :
In the period of scarcity of a particular commodity _________.
Suppose the price elasticity of demand for a good is −0.2. If there is a 5% increase in the price of the good, then by what percentage will the demand for the good go down?
Suppose the price elasticity of demand for a good is −0.2. How will the expenditure on the good be affected if there is a 10% increase in its price ?
Suppose there was a 4% decrease in the price of a good, and as a result, the expenditure on the good increased by 2%. What can you say about the elasticity of demand ?
Distinguish between:
Increase in demand and Decrease in demand
Give economic terms.
Price being constant, demand falls due to unfavourable changes in other factors.
Distinguish between:
Increase in demand and Decrease in demand
