CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Inequality and Externality

What do you u...

Question

What do you understand by relatively elastic demand? Explain with the help of an example and a diagram.

Open in App

Solution

Relatively elastic demand refers to the situation when proportionate change in quantity demand is greater than the proportionate change in price. Elasticity of demand is greater than one.

Suggest Corrections

thumbs-up

0

Similar questions

Q. What do you understand by price elasticity of demand? With the help of diagrams explain the conditions when:
i.

E_{p} > 1

E_{p} < 1

E_{p} = 1

Q. What do you understand by migration? With the help of an example, explain how it helps some birds.

Explain what you understand by 'inferior' goods and explain the same with the help of an example.

Q. What do you understand by ecological pyramid? Explain pyramid of biomass in a grassland with the help of a diagram.

Q. What do you understand by a phenotype and a genotype? Explain by giving an example.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Inequality and Externality

ECONOMICS

Watch in App

explore_more_icon

Explore more

Inequality and Externality

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon