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Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Is the price and demand for junk food elastic or inelastic?
elastic
Distinguish between elastic and inelastic demand?
An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.
Is fruit elastic or inelastic demand?
elastic
What is the difference between inelastic and elastic goods?
Elastic goods usually have many substitutes, so changes in price will decrease demand. Inelastic goods, on the other hand, have very few substitutes, so demand isn't generally affected by price change.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
Demand for wine is elastic or inelastic?
Highly elastic.
What are the types of price elasticity of demand?
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
What is the difference between elastic and inelastic?
Elastic goods usually have many substitutes, so changes in price will decrease demand. Inelastic goods, on the other hand, have very few substitutes, so demand isn't generally affected by price change.
The difference between a elastic and inelastic demand?
Elastic demand changes according to some other factor. The demand for holdiay trees is elastic throughout the year because there is only damand during the winter season. Inelastic demand is constant. As you might have guessed, the demand for gasoline is inelastic because most families need a constant supply. Even during the so-called summer driving season, the uptick in demand is going to remain the same, unless prices cause what is called "demand destruction." This is what happened during 2009.
What are the different types of demands?
Inelastic Demand & Elastic Demand
When the price of a good will cause total revenue to fall if price elasticity of demand is elastic or inelastic?
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
