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Demand — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsDemand2 Marks
Question
Discuss the types of elasticity of demand.
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Answer

  • There is five types of elasticity of demand :
  • Perfectly elastic demand $(Ep =$ Infinite$)$
  • Perfectly inelastic demand $(Ep = 0)$
  • Unit elasticity of demand $(Ep = 1)$
  • Elastic demand $(Ep\ > 1)$
  • Inelastic demand $(Ep\ < 1)$

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