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Question
Select the commodities from the following which have inelastic demand:
Options
Car
Textbooks
Cigarettes
Diamonds
Milk
Coal
Coke
Solution
Textbooks and Cigarettes
Explanation:
- Textbooks: Often considered a necessity for students, textbooks have inelastic demand because students will still need to buy them regardless of price changes.
- Cigarettes: As an addictive product, the demand for cigarettes is relatively inelastic; price changes do not significantly affect the quantity demanded.
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RELATED QUESTIONS
The price elasticity of demand on a linear demand curve at the X-axis is ______.
Complete the correlation:
Ratio method : Ed = `(%triangle"Q")/(%triangle"P")` :: _______ : Ed = `"Lower segment"/"Upper segment"`
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Reasoning (R): Total expenditure refers to the product of price and quantity demanded.
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- Mention the type of elasticity at point ‘C’? (1m)
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- car
- textbooks
- cigarettes
- diamonds
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From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for school uniform
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for precious stones and costly jewellery
