Question

Explain the factors affecting the price elasticity of demand.
सीमांत उपयोगिता एवं कुल उपयोगिता के मध्य सबंध को तालिका एवं रेखाचित्र द्वारा
समझाइये।
अंक के शब्बसीमा 200-250
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Answer 1

ANSWER

Five factors affecting the elasticity of demand are:

1) Nature of commodity: Necessaries have less than unitary elastic demand whereas, luxuries have more than unitary elastic demand.

2) Time period: Demand is inelastic in short period but elastic in long period.

3) Price level: elasticity of demand will be high at higher level of the price of the commodity and low at lower level of price.

4) Diversity of uses: Commodities that can be put to variety uses have elastic demand. On the other hand, if a commodity has only few uses, its demand is likely to be less elastic.5) Habit of consumers: Goods to which consumers become habitual will have inelastic demand.

Answer 2

Answer:

11th.........................................