Economy, asked by arpitsaini402, 6 months ago

State any six factors affecting the elasticity of demand of a commodity

Answers

Answered by rajahmohsin
1

Answer:

Various factors which affect the elasticity of demand of a commodity are:

1.Nature of commodity:

2.Availability of substitutes:

3.Income Level:

4.Level of price:

5.Postponement of Consumption:

6.Number of Uses:

7.Share in Total Expenditure:

8.Time Period:

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