Download App

MICROECONOMICS CH : 6 PRICE ELASTICITY OF DEMAND — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 6 PRICE ELASTICITY OF DEMAND1 Mark
Question
What is meant by perfectly inelastic demand?
✓

Answer

Perfectly inelastic demand refers to a situation in which any percentage change in price causes no change in quantity demanded. In other words, change in price causes no change in demand.

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 "1 Marks Question" from MICROECONOMICS CH : 6 PRICE ELASTICITY OF DEMAND→MICROECONOMICS CH : 6 PRICE ELASTICITY OF DEMAND — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Define statistics in singular sense.
→
What do you understand by quartile deviation?
→
Ayaan wants to collect information from respondents residing in Gujarat, Maharashtra and Madhya Pradesh. Name any two methods of data collection which can be used by him effectively.
→
What do you know about Census of India and National Sample Survey Organisation (NSSO)? What type of information they provide?
→
Which index is also known as 'the cost of living index’?
→
Calculate mode, if median is $20$ and mean is $18.$
→
Give any one use of consumer price index.
→
Define increase in demand.
→
What is a simple classification?
→
Define decrease in supply.
→