Question

· 1. Why does the quantity of salt demanded tend to be unresponsive to changes in its price? 2. Why is the quantity of education demanded in private universities much more responsive than salt is to changes in price?

Answer 1

• The quantity of salt demanded tend to be unresponsive to changes in its price because, although salt is a necessity, its consumption will not be affected due to change in its price. People wont consume more of salt if its price drops down.

• The quantity of education demanded in private universities much more responsive than salt is to changes in price because, the price given for education in private universities is much more than the price for salt. Thus, the price changes in private universities affect people much more than price changes in salt.

Answer 2

The Answer is as follows:

Explanation:

Demand curve shows the relationship between the price and quantity demanded for the commodity.

1. The salt is a type of necessity good for the consumers. So, it is unresponsive to any change in the price of the salt. If the price of salt falls, even though the quantity demanded remains the same. The change in the price doesn't affect the quantity demanded because consumers have to consume some amount of salt at any price.

2. The quantity demanded for education much more responsive to any change in its price than salt. If the price of education increases in the private universities then as a result the quantity demanded for education from the private universities falls. Education from the private universities is not a necessity good, that's why it is much more responsive than salt.

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