Answer:
Hey there, the answer is: Nature of the good
Explanation:
What the nature of the good refers to is how relevant it is for the consumer to acquire a product, basically it is like setting a scale in which one defines priorities regarding the product.
So if for instance you have to take care of your alimentary needs of your dog; If you had the choice between a $10 bag of food, or a $10 dollar bag of treats, the most reasonable option would be to buy the bag of food since it contains the nutrients that your dog needs to survive.
This also entangled to the Good's own Price, which refers to the price of the good and the amount that you can get for said price. For instance, taking the previous example, if now the bag of dog food price rises from $10 to $15, then more likely that not you will buy less of that particular product, or look for other options that may be equivalent.
