The degree of responsiveness of demand for a commodity to a change in its price is called ___
elasticity of demand
increase in demand
expansion of demand
none of these
If a demand curve is a straight line parallel to y- axis - it shows ______
more elastic demand
less elastic demand
perfectly inelastic demand
unitary elastic demand
A slight changes in price causes an infinite change in demand is a situation.
unit elastic demand
perfectly elastic demand
perfect inelastic demand
Increase in demand for wages due to industrial development in an example of ____ demand.
income
derived
cross
competitive
