11 October, 23:39
1. Name a product/service that you purchase, and the demand is inelastic. Explain.
2. Name a product/service that you purchase, and the demand is elastic. Explain.
12 October, 00:34
1. Inelasyic Demand i. e Change in price has no effect on demand
basic necessity goods such as: food, cloths, shelter etc are inelastic in demand because change in price will not affect the consumer behavior. due to decrease in price consumers will not start eating too much and vice versa.
2. Elastic Demand i. e change in price has significant effect on demand
These are the luxurious goods such as Apple iPhone, porchy car etc change in price will significantly affect the consumer demand decrease in price will induce the consumers to buy more and increase in price will reduce the consumer demand.
Know the Answer?
New Questions in Business
One sentence using ser one sentence using estar one sentence using saber one sentence using conocer one sentence using prepositions to describe the location of nouns Be sure to include the near future vocabulary.
How do you figure out escape velocity
What does it mean to be at the bottom - - culturally, socially, politically, and economically? Explain in detail. What does it mean to feel "invisible" in the United States? In what ways is Tammy Crabtree invisible, and to whom?
What factors might have motivated Carnegie to write his essay on wealth, and for whom do you think he wrote it? What inferences can you draw about the social and political context during which Carnegie wrote, which may have inspired his essay
Each DNA strand contains bases but also a structure that can be described as "sugar - lipid-sugar-lipid-sugar-lipid ... ", repeating this simple sequence from one end to the other a. True b. False
Read the excerpt below and answer the question. "What do you want to do with this boy?" Fredo wanted to say "nothing" but no sound came from him ... He had not spoken in over five years. "Nothing? You wanna do nothing?" Fredo shook his head yes.
Straight angle always has 180 degrees this is correct?
Which of the following describes the British colonial policy or mercantilism
Resistance to British rule in southern Africa was led by the
For an open economy with perfect capital mobility, when net capital outflow is measured along the horizontal axis and the real interest rate is measured along the vertical axis, net capital outflow is drawn as a: A. vertical line at 0. B.
» 1. Name a product/service that you purchase, and the demand is inelastic. Explain. 2. Name a product/service that you purchase, and the demand is elastic. Explain.