Question
In economic terms, when is a demand or supply considered
inelastic?Solution
A demand or supply is considered inelastic when its elasticity is less than one. This indicates that the quantity demanded or supplied changes by a smaller percentage than the change in price, demonstrating low responsiveness to price variations.
Which of the following is the Largest state (area-wise) in India?
SBI has introduced Aadhaar-based enrolment for social security schemes, making it easier and more convenient for customers. The customers visiting Custo...
Consider the following reaction:
2H₂ (g) + O₂ (g) → 2H₂ O(l)
Which one of the following statements about the reaction given above is correct?
The device that uses ultrasonic waves to measure the distance, direction and speed of underwater objects is called:
Who was the founder of the first search engine called 'Archie'?
Who among the following called the Revolt of 1857 a ‘National Revolt’?
Who among the following has been appointed by UNICEF (United Nations International Children Education Fund) to advocate for promoting and supporting it...
Which of the following economic activities falls under the primary sector?
Criminal Procedure Code (CrPC), it is the primary legislation regarding the procedural aspects of criminal law.When did the CrPC Act came into force ?...
Which of the following is an igneous rock usually composed of the minerals quartz, feldspar and mica that is formed when hot molten rock cools relativel...
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