Economy, asked by diyajadhav03, 11 months ago

demand for goods which has more than one use is called _ demand​

Answers

Answered by viratgraveiens
0

Demand for goods which have more than one use is called elastic demand.

Explanation:

The goods that usually have more than one use or multipurpose have higher general demand than other goods.People,in general are more sensitive about these kind of products and therefore,more responsive to the price change of these goods or products.Hence,any price change of these goods will have a significant or considerable change or modification in the consumer demand,which makes the price elasticity of demand for these goods,elastic.

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