Get Started
324

Q:

There is no change in demand for a commodity when its price changes more. What demand will this be called?

  • 1
    elastic
  • 2
    inelastic
  • 3
    perfectly inelastic
  • 4
    highly elastic
  • Show Answer
  • Workspace

Answer : 2. "inelastic"
Explanation :

When the demand of a quantity does not change as a result of a change in the price of a commodity, the demand of that commodity is called a perfectly inelastic demand. In this case, the elasticity of demand is zero.

Previous Next
Basic GK Economics GK

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today