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प्रश्न
State 3 factors which affect price elasticity of demand.
उत्तर
Three factors which affect price elasticity of demand are:
- Nature of commodity
- Availability of substitutes
- Habits
संबंधित प्रश्न
Explain the effect of the following on the price elasticity of demand of a commodity:
(i) Number of substitutes
(ii) Nature of the commodity
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 |
Define or explain the following concepts (Any THREE):
Stock
Choose the correct answer :
Demand of labour is _______
Choose the correct answer :
Demand of electricity for domestic purpose is _________.
Choose the correct answer :
The account in which the specific amount is deposited per month regularly is known as _________.
The coefficient of price elasticity of demand for Good X is (−) 0.2. If there is a 5% increase in the price of the good, by what percentage will the quantity demanded for the good fall?
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
The demand for salt by households.
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.
What is the implication of a vertical demand curve?
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.
Explain briefly the factors on which elasticity of demand depends.
When will the demand curve be parallel to x-axis?
Discuss any three/ four factors determining price elasticity of demand.
