analysis on study the responsiveness of demand for commodities like salt, matchboxes,candles,television,foodgrains with respect to income level of five families
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if the income level of a family increases then the demand for the commodities like ....
- Salt ,match boxes will increase little bit but after a level the demand will be relatively same, so the demand will be zero elastic .
- While the demand for luxurious television will increase so a large amount of income may be spent on it, so the demand will be elastic.
- Just like that the demand for inferior foodgrains will be changed like eating of rice instead of bajra and maize,so there will be a change in the demand of foodgrains,so the demand will be negative elastic.
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