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"Even high price of electricity has …

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"Even high price of electricity has failed to reduce its demand' The given statement is a newspaper headline. Keeping in mind the law of demand and elasticity of demand answer the following question: 1. Why even after the rise in price of electricity the demand has not falls give two reasons. 2. Mention any one way through which we can save power ? 3. What value reflected in the above situation.

Posted by Kulwinder Singh 7 years, 7 months ago

CBSE > Class 12 > Economics

1 answers

Prateek Gupta 7 years, 7 months ago

Electricity being a necessity has inelastic demand. Thus even if its price decreases or increases its demand will always remain high. Thus law of demand doesnt operate here.

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