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en.wikipedia.org/wiki/Elasticity_(economics)

In economics, elasticity is the measurement of how responsive an economic variable is to a change in another. It gives answers to questions such as: "If I lower the price of a product, how much more will sell? ... In contrast, an inelastic variable (with elasticity value less than 1) is one which changes less than proportionally in ...

courses.lumenlearning.com/microeconomics/chapter/reading-examples-of-elastic-and-inelastic-demand

In general, the greater the necessity of the product, the less elastic, or more inelastic, the demand will be, because substitutes are limited. The more luxurious the ...

www.economicshelp.org/blog/7019/economics/examples-of-elasticity

May 4, 2014 ... inelastic-demand. We say a good is price inelastic, when an increase in price causes a smaller % fall in ... Examples of income inelastic goods.

www.investopedia.com/terms/e/inelastic.asp

Inelastic is an economic term used to describe the situation in which the ... if a smartphone producer knows that lowering the price of its newest product by 5% ...

www.investinganswers.com/financial-dictionary/economics/elasticity-2873

Inelastic goods have fewer substitutes and price change doesn't affect quantity demanded as much. Some inelastic goods include gas, electricity, water, drinks,  ...

www.thebalance.com/inelastic-demand-definition-formula-curve-examples-3305935

It's hard to imagine a situation that would create perfectly inelastic demand. But some products come close. For example, gasoline is something that drivers need  ...

www.quora.com/What-are-some-examples-of-inelastic-goods

Inelastic goods are those commodities whose demand does not change relative to change in prices. It includes bare essential goods for life ...

www.quora.com/What-are-some-examples-of-elastic-goods

An elastic good is defined as a good for which the consumption reduces as its price goes up, ... Things like medication that often is expensive and has few replacements are inelastic goods as a person needs these things to continue their ...

www.reference.com/world-view/examples-elastic-inelastic-goods-8339c5462bb10ebc

Elasticity is a term that describes how much the demand or supply for a product or service changes in relation to that product's price. Each product on the market  ...