Question

why is the demand of rice relatively inelastic? Give 3 points to justify your answer.​

Answer 1

Answer:

Bicycles: Bicycles will have a relatively elastic demand since bicycle is not a necessity. Answered By. toppr.

(i) Rice in West Bengal: Inelastic demand since rice in West Bengal is the staple food and hence, it is a necessity.(ii) Rolex watches: Elastic demand ..

Answer 2

Answer:

(i) Rice in West Bengal: Inelastic demand since rice in West Bengal is the staple food and hence, it is a necessity.

(ii) Rolex watches: Elastic demand because Rolex watch is a luxury and hence it will have an elastic demand.

(iii) Matchboxes: Matchboxes will have a relatively inelastic demand since matchboxes costs really less.

(iv) Bicycles: Bicycles will have a relatively elastic demand since bicycle is not a necessity.

Explanation:

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