The following items determine whether a good a service has elastive demand:
C. Availability of substitutes for a good or service
A. If the good is a necessity of luxury.
It was the first national government of the unites states until being replaced
A patent is an exclusive right granted by country to allow the inventor to exclude others from making, using or selling their invention in that country during the life of the patent.
If the US had been poor in natural resources than it likely would not have been a major leader in the Industrial Revolution, and would have had to import many resources from South America and elsewhere.
