How does a person's perception of a good as a necessity or a luxury affect his or her purchase of it? A. If a good is perceived as a luxury, demand becomes inelastic. B. A good that is perceived as a necessity will be purchased even if the price rises. C. A good that is perceived as expensive will no longer be considered a necessity. D. People who have a lot of money will buy goods even if they think they are a luxury.

Question

Sosa

Social Studies

14 January, 08:52

How does a person's perception of a good as a necessity or a luxury affect his or her purchase of it? A. If a good is perceived as a luxury, demand becomes inelastic. B. A good that is perceived as a necessity will be purchased even if the price rises. C. A good that is perceived as expensive will no longer be considered a necessity. D. People who have a lot of money will buy goods even if they think they are a luxury.

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Mollie Sherman · Answer 1

My bet is on B because its ture, but a is also true. but id say B to be safe, people will still buy it if it rises because it is needed. like water. Its not like 6 bucks per 30 pack here but they still sell out because its needed.

Elias · Answer 2

The answer would be B).