Read the following statements: State whether demand will be elast… - Vidyadip

Question

Read the following statements:
State whether demand will be elastic or inelastic.
Give reasons for your answer.
(a) The demand for salt by households.
(b) A consumer prefers to postpone the purchase of a car to avail more of year ending discount.

✓

Answer

self

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "[4 marks Question-Answer]" from Elasticity of Demand→Elasticity of Demand — all question types→Economics STD 10 question papers→ICSE Board STD 10 question papers→ICSE Board question paper generator→

Similar questions

Mention five differences between a direct tax and an indirect tax.

Define tax. Give three differences between direct taxes and indirect taxes.

Explain any three methods of qualitative credit control.

With the help of a suitable diagram explain the meaning of rightward shift in the demand curve. Explain briefly any two of its determinants.

Define public debt. How is it different from private debt?

Define cost push inflation. Explain any four causes of cost push inflation. ### Define inflation. Explain four causes of inflation.

Distinguish between funded and unfunded debt. Discuss three purposes of public debt.

Define a commercial bank. How do commercial banks mobilise deposits from the public?

Mention five qualities of a good entrepreneur.###Discuss any five important qualities of an entrepreneur.

(a) What is the meaning of creeping inflation?
(b) Explain any three causes of demand-pull inflation.