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Why is the word elastic used to describe products with a chaning supply or demand?
Wiki User
∙ 12y ago
When talking about elastic supply in class, we used a rubber band as an example to describe it because of its ability to get back into it's original form. It has 'elasticity'
Wiki User
∙ 12y ago
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A graphic representation demand is called?
A demand curve
Where is interior design in high demand?
is there a demand for interior designers in wolverhampton
What is the tagline of intex?
Demand More
Is there a high or low demand for a graphic designer?
Low. Low Demand + High Competition + Low Salary = Do something else in life.
Where in the us has the highest demand for chefs?
In the Kitchen
What are unitary elastic products?
unitary elastic products are those with a supply and demand slope=1.
In general products that are consumed in fixed amounts have?
elastic demand
What does the term unitary elastic describe?
Unitary elastic is a demand whose elasticity is exactly equal to 1.
What are examples of five products whose demand is price elastic and five products whose demand is price inelastic?
narcotics, food, gas
What does the term elastic describe?
demand that is very sensitive to a change in price ~novanet~ *deyanira :)*
Describe three determinants of demand elasticity?
These three determinants are listed here: nature of commodity -the more perishable a good,lower will its elasticity of demand,middle income groups have highly elastic demand ,goods having alternative uses have elastic demand,for eg.milk
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
When demand is elastic?
The demand is elastic when the price is low. So people will buy more good so that it's demand will become more elastic. Moreover ,the demand is elastic when there are some new inventions.
Products whose demand is price elastic and price inelastic?
product whose demand is elastic are jewells(gold,silver,platinum,dimond,etc) fuel(petrol,disel,kerosene,etc) sugar detergents soaps(washing and bathing) products whose demand is inelastic are salt fruits food and vegetables
When a firm's marginal revenue is zero what can be said about the elasticity of demand for the output of the firm A. Demand is inelastic. B. Demand is elastic. C. Demand is unit elastic.?
Demand is unit elastic.
Is fruit elastic or inelastic demand?
elastic
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
