Question

it is not possible for deman and supply shift at the same time.whether the statement is true or false justify Your answer​

Answer 1

Answer:

Yes, it's true, Supply and Demand can shift at the same time

Explanation:

The elasticity of demand is defined as the responsiveness or sensitiveness to a given change in price or non-price determinant of a commodity. More precisely, it gives the percentage change in quantity demanded in response to a one percent change in price. When consumers buy about the same amount of commodity whether the price rises or drops, then the demand is called inelastic demand. Then the change in demand is greater than the change in price. For example, demand for petrol for a cab driver is inelastic.