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प्रश्न
Price elasticity of demand measures ______.
पर्याय
Change in price caused by cnange in demand.
The rate of change of demand.
The responsiveness of demand to a change in price.
The responsiveness of demand to a change in income.
उत्तर
Price elasticity of demand measures the responsiveness of demand to a change in price.
Explanation:
Price elasticity of demand measures how much the quantity demanded of a good responds to a change in the price of that good.
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संबंधित प्रश्न
Identify & explain the concept from the given illustration.
At Amulya Café, the demand for tea increased by 5% due to a 10% rise in the price of coffee.
Distinguish Between
Price elasticity of demand and Income 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.
Read the extract given below and answer the questions.
|
The Economic Times - 2024 “Lakshadweep becomes new keyword for investors. Praveg caught shareholder’s attention as it had last month received a work order for the development of operation, maintenance and management of atleast 50 tents at Lakshadweep’s island. The resorts will also offer commercial activities like scuba diving, destination weddings, corporate functions etc. Small cap soars 43% in 3 days. It is known for its luxury resorts in tourist places. During the day the stock rallied 17% to hit an all time high of Rs. 1,187.95" |
- What commercial activities would the resorts offer?
- State the quality of a factor of production highlighted above.
- Define price elasticity of demand.
- State the doctrine of Laissez faire.
Define the term price elasticity of demand.
If commodity X and Y are complementary goods , what will be the cross elasticity of demand?
With the help of a diagram, explain the Relatively elastic demand curve.
Price elasticity of demand of good X is −2 and of good Y is −3. Which of the two goods has more price elasticity and why?
Price elasticity of demand shows:
