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Because it is a necessity to life, so it will be bought no matter the price.
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∙ 15y ago
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What type of demand does salt and television and food grains have?
I would say that salt and food grains have an inelastic demand and television has an elastic demand.
Distinguish between elastic and inelastic demand?
An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
Is salt an elastic or inelastic product?
Inelastic
What type of demand does salt and television and food grains have?
I would say that salt and food grains have an inelastic demand and television has an elastic demand.
Distinguish between elastic and inelastic demand?
An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
What is inelastic demand and does salt cigarettes or biscuits have the most and why?
The concept of Inelastic Demand means that the goods are not responsive to any price changes. If we say a good faces an inelastic demand curve, this means that any price changes, increases or decrease will have little or no impact on the quantity demanded. For example, we can say that specific medication for certain illness can have an inelastic demand, as even if the price of the medication increases, there is little that the consumer can do, the consumer still needs to buy the medication, as he needs it. Hence little or no changes in the quantity demanded for the medication even if there are changes in the price. You need to understand that several factors can affect the elasticity of demand like time period, percentage of income spent on the good and the number of substitutes. To answer your 2nd question, Salt will have an inelastic demand. This is because there is not a lot of substitute to salt. Another reason is that people spend a small fraction of their monthly income on salt. Hence, any changes in the price of salt, will have little or no effect on the quantity demanded for salt. Cigarettes will have an inelastic demand as well. As there is little substitutes and also people can be addicted to it. While biscuits will have an elastic demand. There can be quite a number of substitutes to biscuits. If the price of biscuits increases, immediately consumers will reduce the demand of biscuits, and opt for substitutes.
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
Is salt an elastic or inelastic product?
Inelastic
What products have inelastic supply and inelastic demand?
Caffeine from coffees and teas. The caffeine is an inelastic supply because there arent many substitutes for caffeine. --Wayne Also products like salt and pepper are inelastic because people can consume only so much of them. --Danny R.
Is the price and demand for junk food elastic or inelastic?
elastic
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
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
What are the different types of demands?
Inelastic Demand & Elastic Demand
