The demand for agriculture commodity will tend to be elastic with respect to a change in its price if
A. Its price is low in relation to income
B. It has several substitutes
C. Its consumption develops into a habit
D. It is properly priced
Answer: Option B
This Question Belongs to Agriculture >> Agricultural Economics
Related Questions on Agricultural Economics
Cost calculated for per hectare is known as
A. Cost of cultivation
B. Cost of production
C. Cost of farming
D. Fixed cost
The gross agricultural area in Rajasthan during 2011 was
A. 193.10 lakh hectares
B. 183.49 lakh hectares
C. 193.20 lakh hectares
D. 194.33 lakh hectares
A. Economic holding
B. Basic holding
C. Optimum holding
D. None of the above
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