Banking System and Capital Market Questions and Answers for Competitive Exams

Home/
General Knowledge/
when-percentage-change-in-demand-for-a-commodity-is-less-than-percentage-change-in-its-price-then-demand-is-said-to-be

When percentage change in demand for a commodity is less than percentage change in its price then demand is said to be

A Highly elastic

B Inelastic

C Relatively elastic

D Perfectly inelastic

Answer & Explanation
Answer: Option [B]

Article and Schedule Quiz	Start Test!