Which of the Following Is Not a Factor Affecting Elasticity

I Effect of temperature. A 1125.

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On heating mostly the elasticity of materials decreases.

. Elasticity of Demand Class 12 MCQ with Answers Multiple choice questions Factors affecting Price Elasticity of Demand. Which of these is not a factor influencing elasticity of demand of a product. Which of the following is a good that might not be bought when prices rise.

Due to the nature of crystals. Modulus of elasticity E depends upon the nature of material of the body and the manner in which the body is deformed. Availability of Substitute Goods 3.

The most significant determinant of price elasticity of demand for a commodity is the availability of its alternatives. Elasticity of demand for any commodity is generally less for higher income level groups in comparison to people with low incomes. Apart from elastic fatigue some material will have change in their elastic property because of the following factors.

Type of elasticity in which the percentage change in the independent variable usually price causes a less than proportionate change in the dependent variable usually quantity. On the other hand commodities with few or no substitutes like wheat and salt have less price elasticity of demand. Examples include food in general electricity and water.

A availability of substitutes B the goods relative importance C whether the good is a necessity or a luxury D GDP. Which of the following is NOT a factor affecting elasticity-whether the good is a necessity or a luxury-the goods relative importance-availability of substitutes. The factors affecting elasticity of demand are the following.

B 900. Annealing decreases the elasticity of materials. Which of the following is NOT a factor affecting elasticity.

Respond in 3-4 sentences at least. However the price elasticity differs for different products as it depends on various factors. 26Which of the following is NOT a factor affecting price elasticity of demand a Availability of Substitutes b Proportion of Income Spent c Techniques of Production d Number of uses of a commodity.

If consumer spends a very small proportion of his income on a commodity the demand for it will be relatively inelastic and vice. It happens because rich people are not influenced much by changes in the price of goods. The four factors that affect price elasticity of demand are 1 availability of substitutes 2 if the good is a luxury or.

C a Time b Price of an input c. Expenditure share QUESTION 2 1 Which of the following increases the potential for sustainable long run industry profits. The Elasticity of Demand for a good is affected by its nature.

Number and Variety of Uses of the Product 4. The elasticity of demand for a commodity increases as much as it is close to the alternative. The elasticity of a material is affected by the following factors.

Possibility of Deferment of Consumption 7. The nature world also places restrictions upon supply. None of the above.

Depending upon the nature of impurity the elasticity of materials may increase or decrease. So it is not possible to increase the supply of rubber overnight. As discussed earlier the price elasticity of demand of a product reflects the change in the quantity demanded as a result of a change in price.

Role of Habits 6. Several other factors affect the Price Elasticity of Demand PED. Up to 256 cash back Which of the following is not a factor affecting elasticityaavailability of substitutesbthe goods relative importancecwhether the good is a necessity or a luxurydthe goods price rangeenone of the aboveShow full question.

Economics questions and answers. If the government sets a price floor of 30 and agrees to purchase all surplus at 30 per unit the total cost to the government will be. Elasticity is a general measure of the responsiveness of an economic variable in response to a change in another economic variable.

I Proportion of Income Spend. Rubber trees for example take 15 years to grow. Availability of substitutes type or nature of a product income price and time are the five known factors that affect the PED.

Nature of the Good 2. The following points highlight the seven main factors affecting the price elasticity of demand. Some goods are more sensitive or elastic while some are less.

Solve Study Textbooks Guides. Nature or type of Good. This is because 1 in the long period consumer are better informed about their price 2 habits of consumers change in the long run 3 durable goods get worn out in the long period.

The main factor affecting income elasticity of demand is whether or not goods are necessities or luxuries. One factor that can affect demand elasticity of a good or service is its price level. Which of the following factors would NOT affect the own price elasticity of a good.

Which of the following is not a factor affecting elasticity. For example the change in the price level for a luxury car can cause a. Modulus of elasticity E depends upon the temperature of the body.

Explain two barriers to entry for a new business. Factors Affecting Price Elasticity of Demand. Length and volume and of the body.

The goods price range. 20 Suppose market demand and supply are given by Q d 100 - 2P and Q S 5 3P. The three major forms of elasticity are price elasticity of demand cross-price elasticity of demand and income elasticity of demand.

Price of the Good. I Availability of Substitutes. Click hereto get an answer to your question Which of these is not a factor influencing elasticity of demand of a product.

Which of the following si the best example of the law of supply. A substitute for good X. Necessities are basic goods that consumers need to buy.

The willingness of entrepreneurs to take risks also affects price elasticity of supply. Ii Effect of impurities. Proportion of Income Spent on the Good 5.

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