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Theory Of Consumer Behaviour
Question
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Which of the following commodities have inelastic demand?

(i) Salt, (ii) Particular brand of lipstick, (iii) Medicine, (iv) Mobile phone, and (v) School uniform.

Answer

All except mobile phone have more or less inelastic demand because either their substitute is not available or taste and preference of consumer do not allow change.

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Some More Questions From Theory Of Consumer Behaviour Chapter

Give meaning of demand.

 Name two determinants of demand.

List the factors that cause changes in demand.

What is law of demand?

What is demand schedule?

Why does demand curve slope downwards?

Differentiate between substitute and complementary goods.

What is meant by one good being substitute of other?

What is meant by one good being complementary to another.

Give an example of a pair of commodities that are substitutes of each other.