Goyal Brothers Prakashan solutions for Economics [English] Class 10 ICSE chapter 3 - Elasticity of Demand [Latest edition]

Price elasticity of demand shows:

When is the demand for a good said to be elastic?

Given values of price elasticities of demand, less 'elastic' demand is ______.

Degrees of price elasticity of demand is of ______ types.

Which is the implication of a horizontal demand curve?

Which of the following goods have inelastic demand?

The coefficient of price elasticity of a good is 0.8 its demand will said to be ______.

A demand curve which takes the form of a vertical line parallel to the price axis illustrates elasticity, which is ______.

Identify elastic demand when value of Ed is ______.

In case of Ed = 0, demand curve is ______.

As a result of a 10% fall in price of good X its demand also increases by 10%. The price elasticity of demand for the commodity will be ______.

Which of the following goods has elastic demand?

When despite of no change in the price of the good, its quantity demanded increases from 10 units to 15 units, then coefficient of price elasticity will be ______.

When the percentage change in demand of a commodity is greater than the percentage change in its price, the demand for the commodity is ______.

Demand is inelastic for ______.

From the following goods, demand for which is inelastic?

The demand for salt is ______.

A product's demand is ______ when the time period under consideration is longer.

If a good takes up a significant share of consumers' budget, its demand will be ______.

If the percentage increase in the quantity demanded of a commodity is less than the percentage fall in its price, then elasticity of demand is ______.

When the percentage change in quantity demanded is equal to percentage change in price, then it is called as ______ demand.

What is meant by price elasticity of demand?

With the help of a diagram define perfectly elastic demand.

When is the demand for a commodity said to be elastic?

Mention one example of inelastic demand. Give a reason in support of your answer.

What is unitary elastic demand? Draw a diagram to illustrate it.

Draw a diagram showing a perfectly elastic demand curve.

Draw a diagram showing elasticity of demand less than one.

How does the nature of a commodity affect its price elasticity of demand?

How does the availability of substitutes of a commodity affect its price elasticity of demand?

For the following list of goods state whether the demand is elastic or inelastic. Give reasons:

Bicycles

For the following list of goods state whether the demand is elastic or inelastic. Give reasons:

Matchboxes

For the following list of goods state whether the demand is elastic or inelastic. Give reasons:

Rice in West Bengal

For the following list of goods state whether the demand is elastic or inelastic. Give reasons:

Rolex watches

Select the commodities from the following which have inelastic demand:

Mention the degree of price elasticity of demand for the following goods:

Cosmetics

Mention the degree of price elasticity of demand for the following goods:

Medicine

Mention the degree of price elasticity of demand for the following goods:

School uniform

Mention the degree of price elasticity of demand for the following goods:

Air conditioners

Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.

Demand for cigarettes by a habitual smoker.

Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.

A consumer postpones the purchase of a refrigerator till the off-season sale.

Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.

Briefly explain the percentage method of calculating elasticity of demand.

Indicate the degree of elasticity demand of the following demand curves.

What is meant by cross elasticity of demand?

Explain any three types of price elasticity of demand with the help of diagrams.

What is meant by price elasticity of demand?

Discuss any four factors affecting price elasticity of demand.

What is meant by price elasticity of demand?

How do we determine whether the demand for a particular commodity is elastic or inelastic?

Briefly explain the percentage method of calculating elasticity of demand.

With the help of a graph explain the relatively inelastic demand for a commodity.

What is meant by price elasticity of demand?

Why is price elasticity of demand negative?

What is meant by elastic demand?

When is the demand of a commodity said to be inelastic?

What is meant by unitary elastic demand?

When is the demand for a commodity said to be perfectly inelastic?

When will the demand curve be parallel to x-axis?

Define perfectly elastic demand.

Comment upon the shape of the demand curve, if E_d = 0.

A perfectly elastic demand curve is parallel to the X-axis. Why or why not?

What is price elasticity of demand for life saving drugs?

What is meant by cross elasticity of demand?

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?

The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.

What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is zero?

What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is −1?

What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is −2?

Indicate the degree of elasticity demand of the following demand curves.

State 3 factors which affect price elasticity of demand.

Draw a diagram showing elasticity of demand less than one.

Draw a diagram showing a perfectly elastic demand curve.

Explain the different types of price elasticity of demand.

What is the price elasticity of demand for the following demand curve?

Straight line demand curve parallel to X-axis.

What is the price elasticity of demand for the following demand curve?

Straight line demand curve parallel to Y-axis.

What is the price elasticity of demand for the following demand curve?

Rectangular hyperbola

How does the nature of a good affect its elasticity of demand?

How is the price elasticity of demand of a commodity is affected by the number of its substitutes.

Discuss any four factors affecting price elasticity of demand.

Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.

Demand for cigarettes by a habitual smoker.

Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.

A consumer postpones the purchase of a refrigerator till the off-season sale.

Briefly explain the percentage method of calculating elasticity of demand.

A list of goods is given below. 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

A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

demand for refrigerators

A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

demand for electricity

A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

Demand for cigar by a chain smoker

A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

Demand for diesel and petrol

A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

Demand for personal computers

A list of goods is given below. 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