Question

Distinguish between:

Relatively elastic demand and relatively inelastic demand.

Answer 1

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.
Here, Ed > 1	Here,Ed < 1