Exams

Government appointed former Canara Bank MD & CEO Rakesh Sharma as the new MD & CEO of IDBI Bank for the tenure of six months. Prior to him B. SRiram was the MD & CEO of IDBI Bank and he retired on September 30, 2018.

Most of the ozone in the atmosphere is found in the layer of stratosphere, which begins about 10.16 kilometers (6.10 miles) above Earth's surface and extends up to about 50 kilometers (31 miles) altitude.

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.