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yulyashka [42]
3 years ago
9

In economics, if a good is inelastic,

History
2 answers:
Anettt [7]3 years ago
6 0
I believe the answer is: its supply or demand is not sensitive to price changes

A goods would fall under inelastic category if that product is considered as basic/primary needs for most consumers.
Example of such goods is food and water. No matter how much the price of food and water rises, the demand for this goods would stay relatively stagnant because people have to use them to survive.
riadik2000 [5.3K]3 years ago
6 0
The correct answer is its supply or demand is not sensitive to price changes

Inelastic goods have no price changes based on the quantity that is demanded.
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