Question

(Q.18 ) Which of the following will have elastic demand?
(a) Match box
(b)NCERT Textbooks
(c) Medicines
(d)Air conditioners​

Answer 1

Answer:

NCERT Book textbook will elastic

Answer 2

Option d, air conditioners is the correct answer. It will have elastic demand.

Elastic demand is the demand which will change significantly with a small change in price. Or we can say demand of such commodities can be postponed if there is a slight increase in their price.

Match box, NCERT textbooks, Medicines are necessities that we require in day to day life therefore their demand will be inelastic i.e. demand will not vary significantly with a change in their price.