# Distinguish between

1)  Relatively elastic demand and relatively inelastic demand.

 Relatively elastic demand Relatively inelastic demand In this case, the change in price leads to a proportionately large change in the quantity demanded. In this case, the change in price leads to a proportionately less change in the quantity demanded. It represents a flatter demand curve. It represents a steeper demand curve. Symbolically it is represented as  Ed > 1 Symbolically it is represented as Ed < 1 For example- 50% fall in price leads to 100% rise in quantity demanded. For example- 50% fall in price leads to 25% rise in quantity demanded.

2) Perfectly elastic demand and perfectly inelastic demand.

 Perfectly elastic demand Perfectly inelastic demand It implies that the demand is infinitely responsive to any change in the price of the good. It implies that the demand is completely unresponsive to any change in the price of the good. The perfectly elastic demand curve is parallel to the OX axis. The perfectly elastic demand curve is parallel to the OY axis. Symbolically it is represented as  Ed = ∞ Symbolically it is represented as Ed = 0 For example- 10% fall in price may lead to an infinite rise in demand. For example- 20% fall in price will have no effect on quantity demanded.