When a product is elastic, a change in price quickly results in a change in the quantity demanded. When a good is inelastic, there is little change in the quantity of demand even with the change of the good's price. ... If the market price goes up, firms are likely to increase the number of goods they are willing to sell.
There's three types of plate boundaries:
- Collision plate boundaries (where two or more plates of the same density collide )
- Adjacent plate boundaries (where two or more plates slide against each other)
- Subduction plate boundaries (where one or more plates with lesser density are subducting below the the plate that has bigger density).
