Fill in the blanks with appropriate alternatives given in the bracket.
Supply of land is _______ for society as a whole.
[perfectly inelastic, relatively elastic, relatively inelastic, perfectly elastic]

Open in App

Solution

Supply of Land is Perfectly Inelastic for society as a whole. This is because the amount of land and natural resources we have is fixed. They cannot be increased by any means.

Suggest Corrections

Similar questions

Q. Fill in the blanks with appropriate alternatives given in the bracket.
The supply of land is _______ .
[elastic, perfectly elastic, perfectly inelastic, more elastic]

Q. Distinguish between:

1. Perfectly elastic demand and perfectly inelastic demand

2. Relatively elastic demand and relatively inelastic demand

Q. Fill in the blanks with appropriate alternatives given in the brackets:

1. The demand for salt is _______________. (elasticity/ inelastic/ infinite elastic/ unitary elastic)

2. Income elasticity of demand for inferior goods is __________. (positive/ negative/ zero/ greater than one)

3. Perfectly elastic demand curve is _________________. (horizontal to OX axis / horizontal to OY axis/ flatter/ steeper)

4. Cross elasticity of demand is applicable to ____________ goods. (unrelated/ substitute/ inferior/ natural)

5. The slope of demand curve is _______________ in case of inelastic demand. (flatter/ steeper/ horizontal/ vertical)

Show with the help of a diagram, the effect on equilibrium price and quantity when:
(i) Demand is perfectly elastic and supply decreases.
(ii) Supply is perfectly inelastic and demand increases.
(iii) The demand curve is perfectly elastic and the supply curve shifts outwards.

If the demand for bread is ___________, a decrease in its price will lead to a fall in consumers’ total expenditure on bread.

(1) unitary elastic

(2)perfectly inelastic

(3) elastic

(4) inelastic

Join BYJU'S Learning Program

Fill in the blanks with appropriate alternatives given in the bracket.Supply of land is _______ for society as a whole.[perfectly inelastic, relatively elastic, relatively inelastic, perfectly elastic]

Supply of Land is Perfectly Inelastic for society as a whole. This is because the amount of land and natural resources we have is fixed. They cannot be increased by any means.

Fill in the blanks with appropriate alternatives given in the bracket.
Supply of land is _______ for society as a whole.
[perfectly inelastic, relatively elastic, relatively inelastic, perfectly elastic]