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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.
Answer and Explanation:
The 19th century saw large amounts of social change; slavery was abolished, and the First and Second Industrial Revolution led to massive urbanization and much higher levels of productivity, profit and prosperity. European imperialism brought much of Asia and almost all of Africa under colonial rule.
Answer:
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Explanation:
