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Elasticity of Demand:

 

Meaning of Price Elasticity of Demand:

 

The law of demand is straight forward. It tells us when the price of a good rises, its quantity demanded will fall, all other things held constant. Continue reading.

 

Degrees of Elasticity of Demand:

 

We have stated demand for a product is sensitive or responsive to price change. The variation in demand is, however, not uniform with a change in price. Continue reading.

 

Measurement of Price Elasticity of Demand:

 

There are three methods of measuring price elasticity of demand. (1) Total Revenue Method (2) Geometrical Method (3) Arc Method. Continue reading.

 

Types of Elasticity of Demand:

 

The quantity of a commodity demanded per unit of time depends upon various factors such as the price of a commodity, the money income of the prices of related goods, the tastes of the people, etc., etc. Continue reading.

 

Factors Determining Price Elasticity of Demand:

 

The price elasticity of demand is not the same for all commodities. It may be or low depending upon number of factor. Continue reading.

 

Importance of Elasticity of Demand:

 

The concept of elasticity of demand is very useful as it has got both theoretical and practical advantages. Continue reading.

 

 

 

Principles and Theories of Micro Economics
Definition and Explanation of Economics
Theory of Consumer Behavior
Indifference Curve Analysis of Consumer's Equilibrium
Theory of Demand
Theory of Supply
Elasticity of Demand
Elasticity of Supply
Equilibrium of Demand and Supply
Economic Resources
Scale of Production
Laws of Returns
Production Function
Cost Analysis
Various Revenue Concepts
Price and output Determination Under Perfect Competition
Price and Output Determination Under Monopoly
Price and Output Determination Under Monopolistic/Imperfect Competition
Theory of Factor Pricing OR Theory of Distribution
Rent
Wages
Interest
Profits
Principles and Theories of Macro Economics
National Income and Its Measurement
Principles of Public Finance
Public Revenue and Taxation
National Debt and Income Determination
Fiscal Policy
Determinants of the Level of National Income and Employment
Determination of National Income
Theories of Employment
Theory of International Trade
Balance of Payments
Commercial Policy
Development and Planning Economics
Introduction to Development Economics
Features of Developing Countries
Economic Development and Economic Growth
Theories of Under Development
Theories of Economic Growth
Agriculture and Economic Development
Monetary Economics and Public Finance
History of Money

 

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