Elasticity of demand is the degree of responsiveness of demand of a commodity to a -

Related MCQs

• Elasticity of demand measures the responsiveness of the quantity demanded of a goods to a
• If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is -
• The demand of a commodity is a direct demand but the demand of a factor of production is called a -
• The income elasticity of demand being greater than one, the commodity must be -
• If a good has negative income elasticity and positive price elasticity of demand, it is a
• When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be -
• 'Law of demand' implies that when there is excess demand for a commodity, then
• The demand for which of the following commodity will not rise in spite of a fall in its price?
• A fall in demand or rise in supply of a commodity—
• The relationship between price of a commodity and the demand for it -