Economics · Elasticity of Demand
The price elasticity of demand is fundamentally defined as the responsiveness of the quantity demanded of a commodity to a change in its:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Consumer taste
- 2Cost of production
- 3Price✓
- 4Supply
Correct answer
Price
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Elasticity of Demand MCQs →Want more practice questions on Elasticity of Demand?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Elasticity of Demand