Concept of capital market
The market which deals with medium and long term financial instruments is called capital market. There are long
Zero income elasticity of demand
If there is no any change in quantity of demand due to certain percentage change in income
Subsistence theory of wage
Subsistence theory of wage The subsistence theory of wage is also known as ?iron law? of wage.
Relatively inelastic demand
If the percentage change in quality demand is percentage change in price is known as relatively inelastic demand. For
Income elasticity of demand less than one
If the percentage change in quantity demand is less than the percentage change in income