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In economics, "elasticity" refers to:a)The responsiveness of quantity demanded or supplied to changes in price or incomeb)The fixed nature of demand and supply for certain goodsc)The measure of total utility derived from consuming a good or serviced)The proportion of income spent on a particular good or serviceCorrect answer is option 'A'. Can you explain this answer? for SSC MTS / SSC GD 2025 is part of SSC MTS / SSC GD preparation. The Question and answers have been prepared according to the SSC MTS / SSC GD exam syllabus. Information about In economics, "elasticity" refers to:a)The responsiveness of quantity demanded or supplied to changes in price or incomeb)The fixed nature of demand and supply for certain goodsc)The measure of total utility derived from consuming a good or serviced)The proportion of income spent on a particular good or serviceCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for SSC MTS / SSC GD 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In economics, "elasticity" refers to:a)The responsiveness of quantity demanded or supplied to changes in price or incomeb)The fixed nature of demand and supply for certain goodsc)The measure of total utility derived from consuming a good or serviced)The proportion of income spent on a particular good or serviceCorrect answer is option 'A'. Can you explain this answer?.

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