Other things equal, the demand for a good tends to be more inelastic A) the fewer the available substitutes.
Inelastic merchandise is usually necessities without applicable substitutes. The maximum commonplace goods with an inelastic call for are utilities, pharmaceuticals, and tobacco products. companies imparting such merchandise hold greater flexibility with prices because demand stays constant even if fees boom or decrease.
Inelastic is a monetary term regarding the static amount of a terrific or service while its price adjustments. The inelastic manner that when the rate goes up, customers' shopping for habits live about the same, and when the rate goes down, consumers' shopping for conduct additionally remains unchanged.
An elastic call for is one in which the exchange in quantity is demanded because of exchange in rate is huge. An inelastic call is one in which the change in the amount demanded due to an alternate in charge is small.
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Answer:
Federal funds rate
Explanation:
Federal funds rate is the interest rate at which commercial banks borrow and lend their excess reserves to each other overnight.
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