If income elasticity is less than 1 then the goods are
A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand. If income elasticity of demand of a commodity is less than 1, it is a necessity good. If the income elasticity of demand is greater than 1, it is a luxury good or a superior good.
Why has the docking of Chinese naval vessels at the Ream Naval Base in Cambodia raised concerns, and what is the controversy surrounding the base?
What significant discovery was recently announced by Union Minister Dr. Jitendra Singh in the Mandya and Yadgiri districts of Karnataka?
The Asian Development Bank (ADB) has approved a _________ loan to support the Swachh Bharat (Clean India) Mission-Urban 2.0 aiming to make all cities ...
The Securities and Exchange Board of India (SEBI) plans to enter in the era of one-hour trade settlement by early next year, which will be a precursor t...
Which Ministry has launched “Graphene-Aurora Program”?
'Race to Zero' campaign, recently seen in the news, is
PwD App 2.0 with more user friendly & accessible features launched by_____.
What was the employment growth rate in India for FY24?
Recently which telecommunication company in India expands 4G services in Ladakh region near Pangong lake?
Which Indian bank recently became the first to execute an export finance transaction on RXIL’s International Trade Financing Services Platform (ITFS)?...
