Which of the following groups of goods have inelastic demand? (a) Salt, Smart Phone and Branded Lipstick (b) School Uniform, Branded Goggles and Smart Phone (c) Salt, School Unifor... Which of the following groups of goods have inelastic demand? (a) Salt, Smart Phone and Branded Lipstick (b) School Uniform, Branded Goggles and Smart Phone (c) Salt, School Uniform and Medicine (d) Medicine, Branded Sports Shoes, and Diamond ring
Understand the Problem
The question is asking us to identify which group of goods have inelastic demand. Inelastic demand refers to a situation where the quantity demanded of a good does not change significantly when its price changes. Goods that are necessities or have few substitutes typically have inelastic demand.
Answer
Salt, School Uniform, and Medicine.
The group with inelastic demand is Salt, School Uniform, and Medicine.
Answer for screen readers
The group with inelastic demand is Salt, School Uniform, and Medicine.
More Information
Inelastic demand refers to a situation where the demand for goods does not significantly change when the price changes. Essential items like salt, school uniforms, and medicine typically have fewer substitutes and are necessary, making their demand inelastic.
Sources
- Which of the following commodities have inelastic demand? Salt a ... - doubtnut.com
- Search Answer Box - doubtnut.com
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