Questions

The two broad categories of software in a computer are

1. System software
2. Application software

System software controls how the system works and enables user to access all of the system hardware and application software

The OS, utility programs and drivers come under system software.

Application software are software used by the user to perform specific task. They are installed according to the user's requirements.

The word processor, web browser, players, spreadsheets etc... come under this application software.

Hindol Sengupta

If the percent change in quantity demanded is less than the percent change in price, economists label the demand for the good as inelastic.

A good that is inelastic does not have very stretchy demand. In economic terms, the quantity demanded does not change a lot when the price changes.

So, if the price of a good increases by 10 percent and the quantity demanded decreases by only 5 percent or less than 10, that good is said to have inelastic demand.

Hence, in this case, consumers are not considered very sensitive, or responsive, to a change in the price of that good.