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प्रश्न
With the help of a diagram, explain the Relatively inelastic demand curve.
उत्तर
Relatively inelastic demand curve:
When a substantial change in prices has little effect on extension or contraction in quantity demanded of the commodity, the demand is known as relatively inelastic demand. The demands of salt, shoes, needles, etc., belong to this class.
संबंधित प्रश्न
Give economic terms:
Degree of responsiveness of a change of quantity demanded of a good to a change in its price.
Find the odd word
Types of elasticity of demand -
Distinguish between:
Income Elasticity of Demand and Cross Elasticity of Demand
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
If commodity X and Y are complementary goods , what will be the cross elasticity of demand?
Explain any three types of price elasticity of demand with the help of diagrams.
If prices of salt and coffee increase by the same proportion, will their quantity demanded behave in the same manner? Explain by giving reasons.
With the help of a diagram, explain the Relatively elastic demand curve.
