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प्रश्न
(b) less elastic demand
(c) zero elastic demand
(d) unitary elastic demand
उत्तर
Demand for habitual commodity has zero elastic demand.
Explanation:
The goods that a consumer is habituated to such as, liquor, cigarettes, etc. have an inelastic demand or zero elastic demand. A change in the prices of these goods has lesser impact on their demand as the consumer is habituated to these goods and hence cannot reduce their consumption.
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संबंधित प्रश्न
Demand for necessaries is................
(elastic / inelastic / infinitely elastic / unitary elastic)
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.
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.
If due to fall in the price of good X, demand for good Y rises, the two goods are : (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Competitive
Demand for electricity is elastic.
Give reason or Explain the following statement :
Demand for habitually used goods is inelastic.
Give one reason for shift in demand curve.
Define or explain the following concept :
Effective demand .
State whether the following statement is True or False :
Demand for necessary goods is inelastic.
Write short answer for the following question.
Explain the Law of Demand.
Answer the following question.
State and explain the law of demand.
Fill in the blanks using proper alternatives given in the brackets.
Demand for car and petrol is ____________ de
Write whether the following statement is True or False:
Salt has elastic demand.
fill in the blank with appropriate alternatives given in the bracket:
Demand for salt is ___________.
Explain the following concepts or give definitions.
Demand
Match the following:
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Group A
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Group B
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1. Demand and price
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a. Substitute goods
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2. Tea and coffee
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b. Inverse relation
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3. Inferior goods
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c. Joint demand
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4. Factors of production
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d. Distribution of income
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5. Pen and ink
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e. Composite demand
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f. Giffen goods
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g. Indirect demand
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State whether the following statement is TRUE and FALSE
Desire means demand.
Give reason or explain the following statement.
Demand curve slopes downward from left to right.
Answer the following question
What do you mean by demand?
Do you agree with the following statement? Give reason
Many factors influence the demand for a commodity.
State whether the following statement is True or False:
Demand for luxurious goods is elastic .
Distinguish between substitute goods and complementary goods, with examples.
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
In case of ______ supply curve is a vertical straight line parallel to Y-axis.
Which of the following points relates to the transaction demand for money?
Which of the following points are related to the 'Paradox of Thrift'?
Are the concepts of demand for domestic goods and domestic demand for goods the same?
If the increase in demand is greater than the increase in supply, then equilibrium price will ______
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Budget Line | (a) Normal goods |
| (2) Bajra | (b) Inferior goods |
| (3) Consumer equilibrium | (c) Luxurious goods |
| (4) Elastic Demand | (d) M = Px*x + py*y |
Which of the following statements is true?
Identify the two cost curves which start from the same point on the Y-axis.
Aggregate demand can be decreased by:
Identify the market form which has indeterminate demand curve:
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.
The demand curve of a firm under monopoly is ______
"Market demand curve is constructed by horizontally summing all the individual's demand curves at each and every price." Choose the correct option for the above-mentioned statement.
Which of the following statements is true?
Read the case study and answer the questions 97 to 100:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.
______ is the want to buy a product backed by purchasing power.
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 |
Assertion (A): Demand deposits are not legal tenders.
Reason (R): They are with the bank, so only can be used as a legal tender when cheques are issued for the transfer.
The figure given below shows the relation between the quantity demanded for the good X and the price of the good Z. What type of goods are X and Z?
Read the passage given below and answer the questions that follow.
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In India, Fixed deposits have long been a favourite investment choice of people, especially senior citizens, as it promise steady returns. It attracts those who are seeking a stable income. But it’s an illusion in the period of inflation. Inflation is the rate at which the general level of prices for goods and services rises, subsequently eroding the purchasing power of money. In simple terms, what money could buy today might not a few years down the line. Fixed deposits are financial instruments offered by banks where you deposit a lump sum amount for a fixed period at a predetermined rate of interest. Consider an investment of Rs 1 crore in a fixed deposit at a 6% annual interest rate and the annual rate of inflation is 5%. By the 10th year your pre inflation return is 1.79 crore, but post inflation it’s just 1.10 crore. The nominal value of investment in fixed deposits may appear to grow, inflation significantly diminishes their real value and purchasing power over time.
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- What is the theme of the extract? (2)
- Differentiate between Demand pull and Cost push inflation. (2)
- What are the demand deposits and time deposits? (2)
- Since 1998 RBI has been using new measures of money supply, M0, M1, M2 and M3. Which one of these measures incorporates fixed deposit as one of its components? Mention the other components of that measure. (2)
