S.

No Question Options Chosen

1 2 3 4
If your income were to increase
by 40%, would you consider
purchasing another laptop/tablet

Individual 2019 2020 Age Gender

1 600,000 600,000 42 F GVMC work
2 300,000 325,000 39 M Repair ma
3 1,000,000 1,065,000 35 M Corporate
4 545,000 680,000 22 F Corporate
5 800,000 980,000 28 M Corporate
 price elastiincome elastic
Giffen/non-Onion
middle class
Working Class
Upper class
middle class
Upper-middle class
 Rice 1 2
Staple

Price 2019 2020 2019 2020

35 260 260 208 260

40 312 312 260 312

45 364 364 312 364

50 416 416 364 416

In this Sheet we examine the demand of Onions at differen

55 468 468 416 of the survey

The results 468show that the price elasticity of de
The vendors are also earning the most revenue at the price
taste preferences.
Income (annual) 600,000 600,000 300,000 325,000
It can be understood that since it’s a necessity item which i

The life style choices matter, a Jain family would not be af

their income.
52

1 (Middle Class) 2 (Working Class)

Price 2019 2020 2019 2020

35 5 5 4 5

40 6 6 5 6

45 7 7 6 7

50 8 8 7 8

55 9 9 8 9
 3 4 5

2019 2020 2019 2020 2019 2020

520 520 208 260 468 208

572 520 260 312 468 208

624 676 312 364 520 260

676 728 338 260 572 416

ne the demand of Onions at different price points among the sample size of 5 individuals aged between 18 - 45 years.

728 elasticity of demand

ey show that the price 780 of the product
364 is less than 1,364 624a big change in
which means even 468
the price would bring
arning the most revenue at the price point of ₹140 and can continue to increase the same as the customers have no other buying o
1,000,000 1,065,000 545,000 680,000 800,000 980,000
at since it’s a necessity item which is also subject to perishability, no matter the exorbitant price changes the demand will be inel

matter, a Jain family would not be affected but other Indian family ranging from non-vegetarians to vegetarians are impacted by t

3 (Upper Class) 4 (Middle Class) 5 (Upper Middle Class)

2019 2020 2019 2020 2019 2020

10 10 4 5 9 4

11 10 5 6 9 4

12 13 6 7 10 5

13 14 6.5 5 11 8

14 15 7 7 12 9
 Market Demand Previous Income Current Income (Yearly)
Total Revenue (2020) (Yearly) (average (average income of the
income of the market) market)
2019 2020

1664 1508 52,780

1872 1664 66,560

2132 2028 91,260 649000 730000

2366 2236 111,800

18 - 45 years.

2600bring a very
in the price would 2548small change in the demand.
140,140 Income elasticity is at 0, which means the good is considered a nece
rs have no other buying option apart from making onion less meals which though attractive to the customers is not viable conside

s the demand will be inelastic owing to the nature of the product and non-availability of substitute in the market.

tarians are impacted by the price change but are not able to do anything about it except change the volume of demand in relation
 %Δ QD over years
%Δ QD %Δ Price %Δ Income Price Elasticity Price Elasticity Results
(2019-20)

-0.09

0.10 0.14 -0.11 0.72 Inelastic

0.22 0.13 0.12 -0.05 1.75 Elastic

0.10 0.11 -0.05 0.92 Inelastic

0.14 a necessity.
good is considered 0.10 -0.02 1.40 Elastic
mers is not viable considering

market.

me of demand in relation to
 Income Elasticity
Income Elasticity
Results

-0.75 Inferior Good

-1

-0.89 Inferior Good

-1

-0.39 Inferior Good

-1

-0.44 Inferior Good

-1

-0.16 Inferior Good

-1
 Onions
1 2 3
Vegetable

Price 2019 2020 2019 2020 2019

50 416 416 312 364 520

70 416 416 260 312 520

90 520 520 208 260 572

In this Sheet we examine the demand of Onions at different price po

110 572 572 208 208 624
The results of the survey show that the price elasticity of demand of
the good is considered a necessity. The vendors are also earning the
140 312 312 156 182 676
meals which though attractive to the customers is not viable conside

Income (annual) 600,000 600,000 It can be300,000

understood that since it’s a necessity
325,000 1,000,000item which is also su
the market.

The life style choices matter, a Jain family would not be affected bu
volume of demand in relation to their income.
52

Price 2019 2020 2019 2020 2019

50 8 8 6 7 10

70 8 8 5 6 10

90 10 10 4 5 11

110 11 11 4 4 12

140 6 6 3 3.5 13
 3 4 5 Market Demand

2020 2019 2020 2019 2020 2019 2020

624 364 416 468 520 2080 2340

624 364 416 468 520 2028 2288

624 468 520 520 572 2288 2496

of Onions at different price points among the sample size of 5 individuals aged between 18 - 45 years.
728 520 468 572 676 2496 2652
price elasticity of demand of the product is less than 1, which means even a big change in the price would bring a very small ch
e vendors are also earning the most revenue at the price point of ₹140 and can continue to increase the same as the customers hav
780 260 312 312 364 1716 1950
ustomers is not viable considering taste preferences.

ecessity item which1,065,000

is also subject545,000
to perishability, no matter the 800,000
680,000 exorbitant price changes the demand will be inelastic owing to t
980,000

mily would not be affected but other Indian family ranging from non-vegetarians to vegetarians are impacted by the price change
ncome.

2020 2019 2020 2019 2020

12 7 8 9 10

12 7 8 9 10

12 9 10 10 11

14 10 9 11 13

15 5 6 6 7
 Previous Income Current Income %Δ QD
Total
(Yearly) (Yearly) (average %Δ %Δ over
Revenue %Δ QD
(average income income of the Price Income years
(2020)
of the market) market) (209-20)

117,000 0.13

160,160 0.02 0.40 0.13

224,640 3,650,000 2,645,000 0.09 0.29 0.28 0.09

rs.
291,720 0.06 0.22 0.06
e would bring a very small change in the demand. Income elasticity is at 0, which means
the same as the customers have no other buying option apart from making onion less
273,000 0.26 0.27 0.14

nd will be inelastic owing to the nature of the product and non-availability of substitute in

impacted by the price change but are not able to do anything about it except change the
 Price Income
Income
Price Elasticity Elasticity Elasticity
Elasticity
Results Results

Normal
0.45
Good 1
Normal
0.06 Inelastic 0.47
Good 1
Normal
0.32 Inelastic 0.33
Good 1
Normal
0.28 Inelastic 0.23
Good 1
Normal
0.97 Inelastic 0.50
Good 1
 Oreo
1 Jim Jam 2
Biscuit

Price 2019 2020 2020 2019 2020

35 312 260 52 208 156

40 260 208 52 156 104

45 208 156 52 156 104

50 156 52 104 104 0

In this Sheet we examine the demand of Onions at differ

55 156 52 104 52 0
The results of the survey show that the price elasticity of
Income most revenue at the price point of ₹140 and can continue
600,000 600,000 300,000 325,000
(annual)
It can be understood that since it’s a necessity item whic

The life style choices matter, a Jain family would not be

52

1 (Middle Class) 2 (Working Class)

Price 2019 2020 2019 2020

35 6 5 4 3
1
40 5 4 3 2
1
45 4 3 3 2
1
50 3 1 2 0
2
55 3 1 1 0
2
 Jim Jam 3 Jim Jam 4 Jim Jam

2020 2019 2020 2020 2019 2020 2020

52 416 416 104 208 208 156

104 416 364 104 260 156 156

104 364 312 104 312 208 156

104 312 260 104 312 208 156

the demand of Onions at different price points among the sample size of 5 individuals aged between 18 - 45 years.
52 260 156 156 364 208 260
show that the price elasticity of demand of the product is less than 1, which means even a big change in the price would bring a v
point of ₹140 and can continue to increase the
1,000,000 same as the customers have545,000
1,065,000 no other buying option apart from making onion less
680,000

since it’s a necessity item which is also subject to perishability, no matter the exorbitant price changes the demand will be inelast

ter, a Jain family would not be affected but other Indian family ranging from non-vegetarians to vegetarians are impacted by the

3 (Upper Class) 4 (Middle Class)

2019 2020 2019 2020 2020

1 8 8 2 4 4 3

2 8 7 2 5 3 3

2 7 6 2 6 4 3

2 6 5 2 6 4 3

1 5 3 3 7 4 5
 5 Jim Jam Jim Jam
Market Demand Total
Revenue
(2020)
2019 2020 2020 2019 2020 2020

364 364 104 1508 1404 468 65520

364 312 104 1456 1144 520 66560

312 208 156 1352 988 572 70200

260 156 156 1144 676 624 65000

en 18 - 45 years.
208 104 156 1040 520 728 68640
ge in the price would bring a very small change in the demand. Income elasticity is at 0, which means the good is considered a n
apart from making onion less meals
800,000 which though attractive to the customers is not viable considering taste preferences.
980,000

ges the demand will be inelastic owing to the nature of the product and non-availability of substitute in the market.

egetarians are impacted by the price change but are not able to do anything about it except change the volume of demand in relati

5 (Upper Middle Class)

2019 2020

7 7 2

7 6 2

6 4 3

5 3 3

4 2 3
 %Δ QD
Previous Income Current Income %Δ QD
over
(Yearly) (average (Yearly) (average %Δ of %Δ
%Δ QD years
income of the income of the Price Related Income
(2019-
market) market) Good
20)

0.24

0.19 0.14 0.11 0.14

649,000 730,000 0.14 0.13 0.10 0.12 0.15

0.32 0.11 0.09 0.14

0.23 0.10 0.17 0.20

ich means the good is considered a necessity. The vendors are also earning the
onsidering taste preferences.

ubstitute in the market.

hange the volume of demand in relation to their income.

 Income
Price Elasticity Income
Price Elasticity Elasticity
Results Elasticity
Results
Cross Elasticity

1.93 Normal Good

1

1.30 Elastic 1.14 Normal Good 0.78

1

1.09 Elastic 1.23 Normal Good 0.80

1

2.84 Elastic 1.09 Normal Good 0.82

1

2.31 Elastic 1.60 Normal Good 1.67

1
Petrol
1 (Middle Class) 2 (Working Class) 3 (Upper Class) 4 (Middle Class)
Fuel

Price 2019 2020 2019 2020 2019 2020 2019

50 416 416 312 364 572 676 364

70 416 416 260 312 520 624 364

90 364 364 208 260 468 572 312

110 312 312 In this

156Sheet we examine
208 the demand
416 of Onions
546at different260
price points among t

The results of the survey show that the price elasticity of demand of the product
130 260 260 elasticity
104 is at 0, which
156 means the364good is considered
468 a necessity.
260 The vendors ar
have no other buying option apart from making onion less meals which though a
Income
600,000 600,000 It can300,000 325,000
be understood that since1,000,000 1,065,000
it’s a necessity item which 545,000
is also subject to peris
(annual)
non-availability of substitute in the market.

The life style choices matter, a Jain family would not be affected but other Indian
anything about it except change the volume of demand in relation to their income
52

Price 2019 2020 2019 2020 2019 2020 2019

50 8 8 6 7 11 13 7

70 8 8 5 6 10 12 7

90 7 7 4 5 9 11 6

110 6 6 3 4 8 10.5 5

130 5 5 2 3 7 9 5
 5 (Upper Middle Previous
4 (Middle Class)
Class) Market Demand Income Current Income
Total
(Yearly) (Yearly)
Revenue
(average (average income
(2020)
2020 2019 2020 2019 2020 income of the of the market)
market)

468 468 572 2132 2496 124800

416 468 520 2028 2288 160160

364 416 468 1768 2028 182520 3,650,000 2,645,000

ent price points 312

among the sample
364 size of416
5 individuals
1508aged1794
between197340
18 - 45 years.

demand of the product is less than 1, which means even a big change in the price would bring a very small change in the deman
ecessity. The vendors
260 are also earning the
312 most revenue
364 1300 at the
1508price point of ₹140 and can continue to increase the same as the c
196040
ss meals which though attractive to the customers is not viable considering taste preferences.

h is also subject680,000 800,000

to perishability, 980,000
no matter the exorbitant price changes the demand will be inelastic owing to the nature of the pr

affected but other Indian family ranging from non-vegetarians to vegetarians are impacted by the price change but are not able to
n relation to their income.

2020 2019 2020

9 9 11

8 9 10

7 8 9

6 7 8

5 6 7
 %Δ QD
over Price Income
%Δ %Δ Income
%Δ QD years Price Elasticity Elasticity Elasticity
Price Income Elasticity
(2019- Results Results
20)

Normal
0.17 0.62
Good

Normal
0.08 0.40 0.13 0.21 Inelastic 0.47
Good

Normal
0.11 0.29 0.28 0.15 0.40 Inelastic 0.53
Good

Normal
0.12 0.22 0.19 0.52 Inelastic 0.69
Good
mall change in the demand. Income
ncrease the same 0.18
as the customers Normal
0.18 0.16 1.00 Unit Elastic 0.58
Good

ng to the nature of the product and

change but are not able to do

1
1

1
Water
1 (Middle Class) 2 (Working Class) 3 (Upper Class) 4 (Middle Class)
Can

Price 2019 2020 2019 2020 2019 2020 2019

20 416 416 260 312 520 572 364

30 416 416 208 260 520 572 364

40 364 364 156 208 468 520 312

50 364 364 104

In this 156
Sheet we examine 416 of Onions
the demand 468at different312
price points among th

The results of the survey show that the price elasticity of demand of the product i
60 312 312 52 is at 0, which
elasticity 104 means the416good is considered
468 260 The vendors are
a necessity.
no other buying option apart from making onion less meals which though attracti
Income
600,000 600,000 It can300,000 325,000
be understood that since1,000,000 1,065,000
it’s a necessity item which 545,000
is also subject to perish
(annual)
non-availability of substitute in the market.

The life style choices matter, a Jain family would not be affected but other Indian
about it except change the volume of demand in relation to their income.
52

Price 2019 2020 2019 2020 2019 2020 2019

20 8 8 5 6 10 11 7

30 8 8 4 5 10 11 7

40 7 7 3 4 9 10 6

50 7 7 2 3 8 9 6

60 6 6 1 2 8 9 5
 5 (Upper Middle
4 (Middle Class)
Class) Market Demand Previous Income
Total
(Yearly)
Revenue
(average income
(2020)
2020 2019 2020 2019 2020 of the market)

416 468 520 2028 2236 44720

416 468 520 1976 2184 65520

364 416 468 1716 1924 76960 3,650,000

ent price points 364 416 size of468

among the sample 1612aged between
5 individuals 1820 18 -91000
45 years.

demand of the product is less than 1, which means even a big change in the price would bring a very small change in the deman
312 are also
ecessity. The vendors 364 416
earning the 1404 at the1612
most revenue price point 96720
of ₹140 and can continue to increase the same as the c
als which though attractive to the customers is not viable considering taste preferences.

h is also subject680,000 800,000

to perishability, 980,000
no matter the exorbitant price changes the demand will be inelastic owing to the nature of the pr

affected but other Indian family ranging from non-vegetarians to vegetarians are impacted by the price change but are not able to
to their income.

2020 2019 2020

8 9 10

8 9 10

7 8 9

7 8 9

6 7 8
 Current
%Δ QD
Income
over Price
(Yearly) %Δ %Δ
%Δ QD years Price Elasticity Elasticity
(average Price Income
(2019- Results
income of the
20)
market)

0.10

0.02 0.50 0.11 0.05 Inelastic

2,645,000 0.12 0.33 0.28 0.12 0.36 Inelastic

0.05 0.25 0.13 0.22 Inelastic

ng a very small change in the demand. Income

ontinue to increase the same as 0.18
the customers0.20
have 0.15 0.88 Inelastic

nelastic owing to the nature of the product and

by the price change but are not able to do anything

 Income
Income
Elasticity
Elasticity
Results

Normal
0.37
Good 1
Normal
0.38
Good 1
Normal
0.44
Good 1
Normal
0.47
Good 1
Normal
0.54
Good 1

5.00

380.00